19. Which equation is correct? a.GDP = C + I + G + X – IM. b. GDP = C + I + G + IM – X. c. GDP = C + I + G + X + IM. d....
Homework Answers
Ans19) the correct option is a.GDP = C + I + G + X – IM.
Ans21) the correct option is a.20%; the base year
Ans24) the correct option is d) in the long run, all nominal prices and wages can change freely, while in the short run some nominal prices and wages are fixed.
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19. Which equation is correct? a.GDP = C + I + G + X – IM. b. GDP = C + I + G + IM – X. c. GDP = C + I + G + X + IM. d....
23. Choose the best answer. Real GDP tends to overstate our economic well-being by including a. payments for cleani...
23. Choose the best answer. Real GDP tends to overstate our economic well-being by including a. payments for cleaning up the environment. b. estimates of the constant-dollar values of illegal products, C. expenditures on crime prevention, payments for cleaning up the environment, and repairs to structures destroyed by storms. d. the value of households' leisure time. 24. In macroeconomics, the long run differs from the short run in that in that a. in the short run, the aggregate supply curve...
ப. மன பயமா பயானா சாயாபரானன decreasing 16. The main goals of government macroeconomics policy are a....
ப. மன பயமா பயானா சாயாபரானன decreasing 16. The main goals of government macroeconomics policy are a. to keep the cost of living relatively low and stable and to dampen the severity of recessions. b. to stimulate the economy so that each period's real GDP is the highest amount possible and to keep the nominal prices firms are paid for their outputs to be as high as possible c to subsidize private insurance for businesses to cover harm from macroeconomic fluctuations...
6. Demonstrate the decrease in wealth using the closed AD-AS model, ceteris paribus, in both the...
6. Demonstrate the decrease in wealth using the closed AD-AS model, ceteris paribus, in both the short-run and long-run. Assumptions: (1) start in long-run equilibrium; (2) prices are sticky; (3) nominal wages are fixed in the short-run. [Note: this is the self-correcting version.] [Sub-questions 6-10 are connected.] In the short-run, _______ shifts _______. A. the aggregate demand curve; leftward B. the aggregate demand curve; rightward C. the short-run aggregate supply curve; leftward D. the short-run aggregate supply curve; rightward E....
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...
1. Which of the following is not a property of the aggregate demand curve? It shows...
1. Which of the following is not a property of the aggregate demand curve? It shows the relationship between the overall price level and level consumption. It shows the price level on the vertical axis and output on the horizontal axis. The aggregate demand curve slopes downward. It shows the relationship between the overall price level and the level of total demand. 2. When the price level increases people: feel more wealthy. have the same real value of assets, regardless...
i am looking to see if my formulas for c and d are correct. if not...
i
am looking to see if my formulas for c and d are correct. if not
please explain
thanks
Macroeconomics Cost of Living Worksheet use the table below to answer the questions that follow. The table shows prices and quantities consumed in Carnivoristan. Suppose that the base year is 2011. Show am work! Year 2011 2012 2013 Price of Beef $2.00 $2.50 X $2.75 Qty. of Beef 100 4 90 105 Price of Pork $1.00 ($0.90 X a Oty. of...
GDP can be computed as OT-G C+I+G+NX O C+I+G+T+X O X-IM
GDP can be computed as OT-G C+I+G+NX O C+I+G+T+X O X-IM
Equations for C, I, G, and NX are given below. If the equilibrium level of output...
Equations for C, I, G, and NX are given below. If the equilibrium level of output is $21,500, what will the new equilibrium level of output be if investment increases by 1,000? C = 1,500 + CY 1 = 1,000 G = 2,000 NX = -200 a) Not enough information is given to answer the question. Ob) $22,000 Oc) $21,500 d) $22,500 If the consumption function is defined as C = 1,250 +0.8Y, and Y = 20,000, what is the...
Aggregate Demand AS IT Price Level LAD2 i I AD 10 Real GDP 1. Circle the...
Aggregate Demand AS IT Price Level LAD2 i I AD 10 Real GDP 1. Circle the correct answer: Based on the graph, the (flatter, steeper) aggregate supply curve results in a higher inflation and thus a (smaller, larger) multiplier effect. 2. Is this question true or false? If the aggregate supply curve is vertical, the multiplier will approach infinity. C False True What do you notice about the relationship between the real wage and the price level? Check all that...
Macroeconomics -1. Most economists believe that prices are: A) B) C) D) flexible in the short...
Macroeconomics
-1. Most economists believe that prices are: A) B) C) D) flexible in the short run but many are sticky in the long run. flexible in the long run but many are sticky in the short run. sticky in both the short and long runs. flexible in both the short and long runs. 2. The aggregate demand curve is the relationship between the quantity of output demanded and the A) positive; money supply B) negative; money supply C) positive;...
23. Choose the best answer. Real GDP tends to overstate our economic well-being by including a. payments for cleaning up the environment. b. estimates of the constant-dollar values of illegal products, C. expenditures on crime prevention, payments for cleaning up the environment, and repairs to structures destroyed by storms. d. the value of households' leisure time. 24. In macroeconomics, the long run differs from the short run in that in that a. in the short run, the aggregate supply curve...
ப. மன பயமா பயானா சாயாபரானன decreasing 16. The main goals of government macroeconomics policy are a. to keep the cost of living relatively low and stable and to dampen the severity of recessions. b. to stimulate the economy so that each period's real GDP is the highest amount possible and to keep the nominal prices firms are paid for their outputs to be as high as possible c to subsidize private insurance for businesses to cover harm from macroeconomic fluctuations...
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...
i
am looking to see if my formulas for c and d are correct. if not
please explain
thanks
Macroeconomics Cost of Living Worksheet use the table below to answer the questions that follow. The table shows prices and quantities consumed in Carnivoristan. Suppose that the base year is 2011. Show am work! Year 2011 2012 2013 Price of Beef $2.00 $2.50 X $2.75 Qty. of Beef 100 4 90 105 Price of Pork $1.00 ($0.90 X a Oty. of...
GDP can be computed as OT-G C+I+G+NX O C+I+G+T+X O X-IM
Equations for C, I, G, and NX are given below. If the equilibrium level of output is $21,500, what will the new equilibrium level of output be if investment increases by 1,000? C = 1,500 + CY 1 = 1,000 G = 2,000 NX = -200 a) Not enough information is given to answer the question. Ob) $22,000 Oc) $21,500 d) $22,500 If the consumption function is defined as C = 1,250 +0.8Y, and Y = 20,000, what is the...
Aggregate Demand AS IT Price Level LAD2 i I AD 10 Real GDP 1. Circle the correct answer: Based on the graph, the (flatter, steeper) aggregate supply curve results in a higher inflation and thus a (smaller, larger) multiplier effect. 2. Is this question true or false? If the aggregate supply curve is vertical, the multiplier will approach infinity. C False True What do you notice about the relationship between the real wage and the price level? Check all that...
Macroeconomics
-1. Most economists believe that prices are: A) B) C) D) flexible in the short run but many are sticky in the long run. flexible in the long run but many are sticky in the short run. sticky in both the short and long runs. flexible in both the short and long runs. 2. The aggregate demand curve is the relationship between the quantity of output demanded and the A) positive; money supply B) negative; money supply C) positive;...
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