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Suppose the actual RGDP for the US economy in Y2003 and in Y2004 are respectively $10,580.7 billion and $10, 994.3 billion. Estimate the growth rate of RGDP in percentage terms between these two years. (Hint Growth rate = (Yt- Yt-1)/Yt-1 *100).
Business Economics, Economics
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You are a division manager at BMW. You estimate the semiannual demand for model X3 is: Q=150,000-1.5P What price should you charge in order to maximize the revenues from sales of model X3? Explain.
What are the characteristics of perfect competition, and does is exist in the real world?
1. In the United States, many agricultural products (such as corn, wheat, and rice) are subsidized. What are the benefits of subsidizing these products? Instructions: You may select more than one answer. Click the box w ...
Trade restrictions can be implemented by tariffs and quotas acting on price and quantity respectively or by non-tariff barriers (NTBs). Explain what constitute NTBs ranging from industrial policy, technical barriers, sub ...
A national air traffic control system handled an average of 47,556 flights during 28 randomly selected days in a recent year. The standard deviation for this sample is 6,251 flights per day. Complete parts a through c be ...
You are interested in comparing perceptions of police officers by race (African American, Hispanic/Latino, White) in Phoenix. You have collected data from a sample of Phoenix residents and asked them to make a survey tha ...
Suppose Oregon proposes indexing the minimum wage to inflation. Describe the substitution and scale effects you anticipate with this policy? (In your response, assume that the minimum wage is an effective price floor and ...
Please discuss the following: As demand increased for these mortgage backed securities, lenders reacted by relaxing their approval standards to increase production. No longer were "all" borrowers required to document the ...
Suppose the demand schedule in a market can be represented by the equation QD = 500 -10P, where QD is the quantity demanded and P is the price. . Also, suppose the supply schedule can be represented by the equation QS = ...
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