In the year 2011 the prices at which producers sold their, Ask an Expert

Economics

In the year 2011 the prices at which producers sold their output were quite real to those producers. If they had tried to sell their products at 1983 prices their customers and stockholders would have rightly thought the producers had lost touch with reality. Why, then, would an economist calculate the value of 2011 output at 1983 prices and call it “real" GDP?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91704931

Have any Question?Write your Review or question?

Related Questions in Business Economics

What is the supply curve how do you apply the law of supply

What is the supply curve, how do you apply the law of supply in economics?

What do you recommend that a company do to prevent andor

What do you recommend that a company do to prevent and/or solve subscriber uncollectable issues?

A farmer wants to test the effectiveness of a pest control

A farmer wants to test the effectiveness of a pest control method in allowing strawberry blooms to yield marketable strawberries. In a pilot study of a random sample of 100 blooms, 77 yield marketable strawberries. What ...

What are the typical types of risk faced by a firm explain

What are the typical types of risk faced by a firm? Explain each type of risk in details.

In a survey of 400 adults that say traffic is a problem

In a survey of 400 adults that say traffic is a problem: East reported 36% is a problem, South 33% problem, Midwest 26% problem and West 55% problem. (a) The 95% confidence interval for the proportion from the West say ...

Would it ever be rational for a firm to retain an employee

Would it ever be rational for a firm to retain an employee whose current marginal revenue product is less than her current wage? Explain.

A certain process is known to produce non-conforming items

A certain process is known to produce non-conforming items 20% of the time. A char- acteristic of the units produced by this process are currently being monitored for quality. Samples of size 15 are selected, and each it ...

A research group needs to determine a 90 confidence

A research group needs to determine a 90% confidence interval for the mean repair cost for all car insurance small claims. From past research, it is known that the standard deviation of such claims amounts to $124.88. (a ...

Suppose an industry that has n1 2 firms each with a supply

Suppose an industry that has n1 = 2 firms each with a supply curve S1(p) = 2p-8, and n2 = 4 firms each with a supply curve S2(p) = p-2. Construct the industry supply curve and plot it on a graph.

Identify a recent mergeracquisition and use it to and

Identify a recent merger/acquisition and use it to and explain: was the merger/acquisition predominately about gaining economies of scale or economies scope?

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

Recent Questions

Ask Business Economics Expert