Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Assume nominal GDP for 2011 is $13 trillion and nominal GDP for 2012 is $16 trillion. At the same time, real GDP in 2011 is $12 trillion and real GDP for 2012 is $14 trillion. (2011 is not the base year in this instance.)

Based on the above information can you conclude whether:
a. The quantity produced has risen
b. The price level has risen

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91227079

Have any Question?


Related Questions in Microeconomics

Question what are harmful manifestations of plastic

Question: What are harmful manifestations of plastic shrinkage of concrete in (a) reinforced columns and (b) slabs? Assuming that the air temperature is 21°C, the concrete temperature is 24°C, and the wind velocity is 30 ...

Quesiton tax ratessuppose taxes are related to income as

Quesiton: (Tax Rates)Suppose taxes are related to income as follows: Income Taxes $1,000 $200 $2,000 $350 $3,000 $450 1. What percentage of income is paid in taxes at each level? 2. Is the tax rate progressive, proportio ...

Question 1 reflect upon the it strategies that are used to

Question: 1. Reflect upon the IT strategies that are used to encourage economic development. Select two strategies and discuss how economic factors affect the strategies that a government may use to facilitate economic d ...

Question identify at least two effective marketing

Question: Identify at least two effective marketing strategies for helping companies avoid "marketing blunders" for their products or services in foreign countries. Outline the pros (advantages) and cons (disadvantages) ...

Question genelia has to choose between a two-day trip and a

Question: Genelia has to choose between a two-day trip and a three-day trip to Hollywood. The table below shows the expected benefit and cost for the different days. Using optimization in levels and optimization in diffe ...

Question samsung runs a 5-year old semiconductor plant that

Question: Samsung runs a 5-year old semiconductor plant that makes 100,000,000 memory chips per year and cost $150,000,000 when it was built. Now they want to build a plant to make 250,000,000 memory chips per year. If t ...

Question the candidates in a multiple choice test have to

Question: The candidates in a multiple choice test have to choose among 4 answers for each question. Each candidate is either entirely ignorant and simply chooses and answer at random, or else is omniscient and knows the ...

Question 1 suppose demand and supply have constant

Question: 1. Suppose demand and supply have constant elasticity equal to 3. What happens to equilibruim price and quantity when the demand increases by 3% and supplu decreases by 3%? 2. Show that elasticity can be expres ...

Question historically wages in the united states have been

Question: Historically, wages in the United States have been high relative to wages elsewhere. Does the chapter shed light on this phenomenon? Explain. The response must be typed, single spaced, must be in times new roma ...

Question coke is manufactured by a publicly held company

Question: Coke is manufactured by a publicly held company. For this product predict the following: Where is the product manufactured? Given the suggested retail price of the company and using a 50% markup on price at ret ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved