Homework Answers
Fixed weight measure of real GDP overstates economic growth because it is incapable of fully accounting for structural changes and it fails to measure the effect of shifting demand in response to relative price changes, known as substitution bias.
Chain weighted method is better than fixed weighted method as it measures output using both current and previous year prices, this allows for substitution effects over time.
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Part II. Price and Output Measurement. Answer 1 of the following 2 questions 1. During the...
Please use the following to answer the questions a. Mainstream View b. Monetarist View c. Real...
Please use the following to answer the questions
a. Mainstream View
b. Monetarist View
c. Real Business Cycle Theory
d. self-correction view
33. The significant increase in oil prices during the late 1970s and early 1980s created a reduction in labor productivity that had long-term effects on economic output and the price level, which lasted until the emergence of information and communication technology in the 1990s. 34. In 2000, the Federal Reserve raised interest rates several times. These actions are...
Please help me with the questions: 1.True or False:The contribution to output growth of technological progress...
Please help me with the questions: 1.True or False:The contribution to output growth of technological progress is estimated by how much of the output growth can be explained by the growth in inputs. 2. The chain index for GDP and the CPI differ in that the CPI: a. excludes price changes from used and imported goods while the chain index includes these price changes. b. asks how much a fixed basket of goods costs in the current year as compared...
21. In 2012, newspapers reported that the annual Consumer Price Index in 2011 was 120.0. From...
21. In 2012, newspapers reported that the annual Consumer Price Index in 2011 was 120.0. From this, we can conclude that a typical market basket in 2011 more than the same market would have cost basket purchased in a. 20%; the base year b. 120%; the base year c. 120%; 2010 d. 20%; 2010 22. The table below gives information on the the prices of three common school supplies in 2010 and 2011 and the quantities of each school supply...
Questions for 5 points each: CHOOSE 4 TO ANSWER 1. Inflation incese the price level and...
Questions for 5 points each: CHOOSE 4 TO ANSWER 1. Inflation incese the price level and dec s purchasing power of the dollar. Deflation wer of the dollar. Deflation des as the price level and blanks with increases" or "decreases.") The formula for the inflation rate is the purchasing power of the dollar. (Fill in the Why do we say that the level of prices does not matter? 2. Describe the Consumer Price Index. Describe a market basket. Write a...
Please solve the final answer for all following 8 multiple choice questions 1. The Future challenge...
Please solve the final answer for all following 8 multiple choice questions 1. The Future challenge of Food Security in the UAE relates to O The increasing size of the UAE population and the resulting increasing demand for food O How to improve domestic agricultural production O The stability of global food trade system O All of the above O There will not be any food security challenge for UAE at all in the future 2. When a total real...
QUESTION 1 AlpenPleasure Co. produces 1000 boxes of chocolate. Each box sells for $30. AlpenPleasure pays...
QUESTION 1 AlpenPleasure Co. produces 1000 boxes of chocolate. Each box sells for $30. AlpenPleasure pays wages of $10,000 and buys $15,000 worth of cocoa beans and other ingredients needed to produce the chocolate. What is AlpenPleasure's contribution (value-added) to GDP? $5,000 $45,000 $15,000 $20,000 QUESTION 2 There is currently a lot of debate in the U.S. about raising the minimum wage. As a contribution to this debate, the Wall Street Journal recently reported the following numbers: In 1980, the...
following statement is F/F 1. Between 1921 and 1928; the New Economy Policy allowed markets to...
following statement is F/F
1. Between 1921 and 1928; the New Economy Policy allowed
markets to help economic recovery in the USSR. 2. The
administrative-command economy was the mechanism for resource
allocation in the former USSR between 1992 and WOLRD WAR II, but
was abandoned in 1946. 3. Although the Soviet Union was a large
country with a large population, it had few natural resources. 4.
Although the USSR had an elected government, the decision-making
authority in the economy was...
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....
Read the case study and answer the questions in the end. Towards a diversified knowledge economy...
Read the case study and answer the questions in the end. Towards a diversified knowledge economy ECONOMIC DVERSIFICATION DRIVES GROWTH IN THE UAE UAE expects higher non oil growth in 2018 due to diversified economy 3.5 70 TOP COUNTRY Source www.putees.co sF KY ScroRs 100 MLLION 25 240 5 200 30 Diversification is important to promote economic development, to create job opportunities for a rapidly growing local workforce, but also to reduce or spread the risk of a high economic...
Please use the following to answer the questions
a. Mainstream View
b. Monetarist View
c. Real Business Cycle Theory
d. self-correction view
33. The significant increase in oil prices during the late 1970s and early 1980s created a reduction in labor productivity that had long-term effects on economic output and the price level, which lasted until the emergence of information and communication technology in the 1990s. 34. In 2000, the Federal Reserve raised interest rates several times. These actions are...
21. In 2012, newspapers reported that the annual Consumer Price Index in 2011 was 120.0. From this, we can conclude that a typical market basket in 2011 more than the same market would have cost basket purchased in a. 20%; the base year b. 120%; the base year c. 120%; 2010 d. 20%; 2010 22. The table below gives information on the the prices of three common school supplies in 2010 and 2011 and the quantities of each school supply...
Questions for 5 points each: CHOOSE 4 TO ANSWER 1. Inflation incese the price level and dec s purchasing power of the dollar. Deflation wer of the dollar. Deflation des as the price level and blanks with increases" or "decreases.") The formula for the inflation rate is the purchasing power of the dollar. (Fill in the Why do we say that the level of prices does not matter? 2. Describe the Consumer Price Index. Describe a market basket. Write a...
following statement is F/F
1. Between 1921 and 1928; the New Economy Policy allowed
markets to help economic recovery in the USSR. 2. The
administrative-command economy was the mechanism for resource
allocation in the former USSR between 1992 and WOLRD WAR II, but
was abandoned in 1946. 3. Although the Soviet Union was a large
country with a large population, it had few natural resources. 4.
Although the USSR had an elected government, the decision-making
authority in the economy was...
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....
Read the case study and answer the questions in the end. Towards a diversified knowledge economy ECONOMIC DVERSIFICATION DRIVES GROWTH IN THE UAE UAE expects higher non oil growth in 2018 due to diversified economy 3.5 70 TOP COUNTRY Source www.putees.co sF KY ScroRs 100 MLLION 25 240 5 200 30 Diversification is important to promote economic development, to create job opportunities for a rapidly growing local workforce, but also to reduce or spread the risk of a high economic...
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