Homework Answers
Q.1 Farmer Brown produces $100 worth of milk.
So, by Income method,
He sells milk worth $40
And, feed his pigs the rest.
So, GDP = $40 worth of income.
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1. Farmer Brown produces $100 worth of milk. He sells $40 worth of the milk in...
Assuming the price index in 2012 was 86 and 91 in 2013, what was the inflation...
Assuming the price index in 2012 was 86 and 91 in 2013, what
was the inflation rate between 2012 and 2013( show all work)
pts) Why are prices important in a market economy? Explain. ca 6 Suppose the following data describe a nation's population Year 2 Year 1 Population Labor Force Unemployment rate 310 million 315 million 160 million 7 percent 150 million 8 percent How many people are unemployed in each year? (5 pts) How many people are employed...
1) If a country has a population of 500 million, an adult working age population of...
1) If a country has a population of 500 million, an adult working age population of 300 million, and there are 160 million people employed and 40 million people looking for work, then its unemployment rate is A) 8% B) 13.33. C) 20% D) 25% E) none of the above. 2) If disposable income increases by $100 million, and consumption increases by $75 million, then the marginal propensity to consume is A) 0.9. B) 0.8. C) 0.75 D) 0.6. 3)...
D stocks, bonds 5 Which of the following is included in the calculated Gross Domestic Product?...
D stocks, bonds 5 Which of the following is included in the calculated Gross Domestic Product? O A. Farmer Freddie sells his second tractor to his son. B. Suzanne buys a love seat and chair for $85 at the yard sale on the corner. O c. A local ice cream store sells $17,000 worth of cones and sundaes on July O D. Mr. Farkle mows his own lawn. 6 Which of the following is not counted as a part of...
Q1 Which of the following are included and which are excluded in calculating this year's GDP....
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
Year Period 1 2. Current Widget Price $0.75 1.35 Base Widget Price $0.75 0.75 0.75 0.75...
Year Period 1 2. Current Widget Price $0.75 1.35 Base Widget Price $0.75 0.75 0.75 0.75 1.60 2.10 According to the above table, in Year 3, the price index for widgets is 180. 46.9. 213.3. 100. Component Currency Coins Transaction Deposits Saving Deposits Travelers' Checks Small Denomination Time Deposits Money Market Mutual Fund Shares Ovemight Eurodollars Available Credit on Credit Cards Amount (Billions of dollars) $600 35 570 450 8 2,144 1,430 16 1,000 According to the above table, the...
Multiple choice. Circle the best answer. 3 points each 1) Silver is an example of a...
Multiple choice. Circle the best answer. 3 points each 1) Silver is an example of a A) commodity money, B) barter money, C) fiat money. D) representative money. 2. Which of the following functions of money would be violated if inflation were high? A) unit of account B) store of value C) certificate of gold D) medium of exchange 3. If nominal GDP is $600 billion and the money supply is SO billion, the velocity of money is A) 0.125....
1. Use the information in the following table to calculate: a. the adult population b. the...
1. Use the information in the following table to calculate: a. the adult population b. the labor force c. the labor-force participation rate d. the unemployment rate Employed Unemployed Not in the labor force 142,263,000 10,112,000 82,932,000 2. Assume that the reserve requirement is 3 percent. All other equal, will the money supply expand more if the Federal Reserve buys $3,000 worth of bonds or if someone deposits in a bank $3,000 that he had been hiding in his cookie...
macroeconomic please solve it all i need help 8. If the price of coffee decreases, all...
macroeconomic
please solve it all
i need help
8. If the price of coffee decreases, all else held coestant, the Law of Demand states that a firms will produce more coffee b. people will buy more coffee 9. If the price of coffee decreases, all else held constant, the Law of Supply states that a firms will produce more coffee b. people will buy more coffee e. firms will produce less coffee d people will buy more milk shakes c....
50. Which of the following best illustrates the medium of exchange function of money? O A....
50. Which of the following best illustrates the medium of exchange function of money? O A. You keep some money hidden in your shoe. OB. You keep track of the value of your assets in terms of currency. O c. You pay for your double latte using currency. OD. You lend $25 to your friend. 51. Which of the following lists ranks assets from most to least liquid? O A. currency, fine art, stocks B. currency, stocks, fine art c....
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
Assuming the price index in 2012 was 86 and 91 in 2013, what
was the inflation rate between 2012 and 2013( show all work)
pts) Why are prices important in a market economy? Explain. ca 6 Suppose the following data describe a nation's population Year 2 Year 1 Population Labor Force Unemployment rate 310 million 315 million 160 million 7 percent 150 million 8 percent How many people are unemployed in each year? (5 pts) How many people are employed...
1) If a country has a population of 500 million, an adult working age population of 300 million, and there are 160 million people employed and 40 million people looking for work, then its unemployment rate is A) 8% B) 13.33. C) 20% D) 25% E) none of the above. 2) If disposable income increases by $100 million, and consumption increases by $75 million, then the marginal propensity to consume is A) 0.9. B) 0.8. C) 0.75 D) 0.6. 3)...
D stocks, bonds 5 Which of the following is included in the calculated Gross Domestic Product? O A. Farmer Freddie sells his second tractor to his son. B. Suzanne buys a love seat and chair for $85 at the yard sale on the corner. O c. A local ice cream store sells $17,000 worth of cones and sundaes on July O D. Mr. Farkle mows his own lawn. 6 Which of the following is not counted as a part of...
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
Year Period 1 2. Current Widget Price $0.75 1.35 Base Widget Price $0.75 0.75 0.75 0.75 1.60 2.10 According to the above table, in Year 3, the price index for widgets is 180. 46.9. 213.3. 100. Component Currency Coins Transaction Deposits Saving Deposits Travelers' Checks Small Denomination Time Deposits Money Market Mutual Fund Shares Ovemight Eurodollars Available Credit on Credit Cards Amount (Billions of dollars) $600 35 570 450 8 2,144 1,430 16 1,000 According to the above table, the...
Multiple choice. Circle the best answer. 3 points each 1) Silver is an example of a A) commodity money, B) barter money, C) fiat money. D) representative money. 2. Which of the following functions of money would be violated if inflation were high? A) unit of account B) store of value C) certificate of gold D) medium of exchange 3. If nominal GDP is $600 billion and the money supply is SO billion, the velocity of money is A) 0.125....
macroeconomic
please solve it all
i need help
8. If the price of coffee decreases, all else held coestant, the Law of Demand states that a firms will produce more coffee b. people will buy more coffee 9. If the price of coffee decreases, all else held constant, the Law of Supply states that a firms will produce more coffee b. people will buy more coffee e. firms will produce less coffee d people will buy more milk shakes c....
50. Which of the following best illustrates the medium of exchange function of money? O A. You keep some money hidden in your shoe. OB. You keep track of the value of your assets in terms of currency. O c. You pay for your double latte using currency. OD. You lend $25 to your friend. 51. Which of the following lists ranks assets from most to least liquid? O A. currency, fine art, stocks B. currency, stocks, fine art c....
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
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