Homework Answers
Answer:(A) 'Underground Economy'.
Underground Economy is the economic transactions that are done illegally.Because either goods and services are traded unlawfully or transactions fail to meet government reporting requirements(tax).
also referred as, Black market, informal economy, shadow economy.
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QUESTION 15 The GDP may actually understate the actual level of output in the economy by...
QUESTION 17 A) unemployment. The type of The short term unemployment that occurs when someone is ...
QUESTION 17 A) unemployment. The type of The short term unemployment that occurs when someone is between jobs is known as the economy like technological change or when a U.S. company moves its operations to a foreign country is unemployment. Because these types of unemployment are inevitable in a large, dynamic, technologically rate of unemployment known as B) progressive, and diverse economy such as ours, the sum of these two rates is known as the C) Although it is hard...
Official GDP may understate the actual output of an economy. Give one possible reason to explain...
Official GDP may understate the actual output of an economy. Give one possible reason to explain this.
1 Official GDP may understate the actual output of an economy. Give one possible reason to...
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7. Recall that, based on the multiplier, we can have a larger change in the economy...
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9. Refer to the below table. For the open economy, the equilibrium GDP is domestic output...
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I need answer for this question National economy is characterised by the following data: Actual level...
I
need answer for this question
National economy is characterised by the following data: Actual level of income Y = 4000s. Potential income Yo- 4200S MPC = 0,8. Calculate: a) How should government spending be changed so that the economy reaches its potential level of income? b) How should the government change the level of taxes to achieve a potential output level?
The GDP gap is the difference between: a. frictional unemployment and actual real GDP. b. unemployment...
The GDP gap is the difference between: a. frictional unemployment and actual real GDP. b. unemployment rate and real GDP deflator. c. actual real GDP and full-employment real GDP. d. full-employment real GDP and real GDP deflator. Inflation is an increase in: a. prices of all products in the economy. b. homes, autos and basic resources. c. the general price level of products. d. none of these. 46. Suppose that last year you borrowed $100 at 5 percent interest to...
37. At what level of output will average variable cost equal average total cost? a. when...
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A vertical AS curve means that changes in GDP will be caused by changes in potential...
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QUESTION 17 A) unemployment. The type of The short term unemployment that occurs when someone is between jobs is known as the economy like technological change or when a U.S. company moves its operations to a foreign country is unemployment. Because these types of unemployment are inevitable in a large, dynamic, technologically rate of unemployment known as B) progressive, and diverse economy such as ours, the sum of these two rates is known as the C) Although it is hard...
1 Official GDP may understate the actual output of an economy. Give one possible reason to explain this 2. The following graphs show the loanable funds market. Give an example scenario, which is represented by a shift from line 3 to line 2. Line 1 Line 4 Vertical Axis Υ Line 3 Une 2 С D Horizontal Axis
GDP and CPI: Tracking the Macroeconomy - End of Chapter Question 4. The small economy of Pizzania produces three goods (bread, cheese, and pizza), each produced by a separate company. The bread and cheese companies produce all the inputs they need to make bread and cheese, respectively. The pizza company uses the bread and cheese from the other companies to make its pizzas. All three companies employ labor to help produce their goods, and the difference between the value of...
I
need answer for this question
National economy is characterised by the following data: Actual level of income Y = 4000s. Potential income Yo- 4200S MPC = 0,8. Calculate: a) How should government spending be changed so that the economy reaches its potential level of income? b) How should the government change the level of taxes to achieve a potential output level?
The GDP gap is the difference between: a. frictional unemployment and actual real GDP. b. unemployment rate and real GDP deflator. c. actual real GDP and full-employment real GDP. d. full-employment real GDP and real GDP deflator. Inflation is an increase in: a. prices of all products in the economy. b. homes, autos and basic resources. c. the general price level of products. d. none of these. 46. Suppose that last year you borrowed $100 at 5 percent interest to...
37. At what level of output will average variable cost equal average total cost? a. when marginal cost equals average variable cost b. when marginal cost equals average total cost c. for all levels of output in which average variable cost is falling d. There is no level of output where this occurs, as long as foxed costs are positive. Figure 16-11 rice 50 MC 45 + ATC 40 35+ 30 25 20 15 + 10 MR 10 20 30...
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