Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 2, Problem 8P
b)
To determine
Impact on
c)
To determine
Impact on PPF due to a decrease in the average age of retirement.
d)
To determine
Impact on PPF due the migration of skilled workers to other countries.
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QUESTION 86
Table 25-1
Output
Consumption
Investment
Net Exports
1,000
800
500
100
1,500
1,200
500
100
2,000
1,600
500
100
2,500
2,000
500
100
3,000
2,400
500
100
3,500
2,800
500
100
4,000
3,200
500
100
In Table 25-1, at output of 4,000, inventories are
a.
increasing by 200.
b.
decreasing by 200.
c.
increasing by 300.
d.
decreasing by 300.
QUESTION 19
Rachel, an Italian citizen, works only in Spain. The value she adds to production in Spain is included
in both Spanish GDP and Italian GDP
in neither Spanish GDP nor Italian GDP
in Italian GDP, but is not included in Spanish GDP
in Spanish GDP, but is not included in Italian GDP
a.
b.
с.
d.
O a
O b
O c
QUESTION 20
Table 2. Production of Country ABC
milk (in gallons)
Quantity
Pizza Pies
Price
Quantity
Price
2017
10
20
2
30
23
2.1
34
2018
12
26
2.15
37
2019
13
2.1
36
2020
13
23
Refer to Table 2. Using 2017 as the base year, the real GDP of 2018 is
$ 298
$ 347.40
20.
a.
b.
$ 57
С.
d.
$ 260
2.In a farway country, banana is the most important crop exported to rest of the world. Data about economic indicators for farway country are given in Table 1.
Table 1: Macro Economic Indicators of Farway Country (all figures in million $)
year
Consumption Expenditure
Investment Expenditure
Government Expenditure
Exports
import
2012-13
100
20
50
60
70
2013-14
120
25
60
65
75
2014-15
140
30
70
65
78
2015-16
160
28
40
50
75
2016-17
165
25
30
45
75
2017-18
170
24
20
40
80
2018-19
170
20
20
35
80
In recent years, a life style change, leading to more consumption of processed food, than raw food has led to reduction in demand for Bananas for consumption. Since the manufacturing sector in FarwayCountry is not developed, the country has to import most of its processed food needs, leading to increase in imports.The Government of Farwaycountry is contemplating inviting foreign investors to establish industries to manufacture banana products such…
Chapter 2 Solutions
Econ Micro (book Only)
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