Calculation of economic growth

Question 16 5 / 5 points   Suppose that nominal GDP in year 1 is 200 and nominal GDP in year 2 is 242. Assume that inflation is 10 percent per year. How fast did the economy grow between these two years? Question options:   10   percent   12   percent   21   percent   42… Continue reading Calculation of economic growth

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Discussion on labor supply and demand

Question 11 5 / 5 points   The labor supply and demand most directly affect the level of __________ in an economy. Question options:   people   attending colleges   people   requiring retraining   employment   welfare   benefits   Question 12 5 / 5 points   Macroeconomics __________. Question options:   studies   the behavior of individual… Continue reading Discussion on labor supply and demand

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Contrasting economic market structures

Three Short answer questions. 125-150 words each Q1. Please define, compare, and contrast the following economic market structures: Monopoly: Monopsony: Oligopoly: Collusive Oligopoly: Monopolistic Competition: Q2. Please define and explain the “Fisher Effect”: Q3. Please define and explain “income elasticity of demand” and “price elasticity”: Get Professional Assignment Help Cheaply Are you busy and do… Continue reading Contrasting economic market structures

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The price elasticity of demand

1. A physical therapy clinic faces a demand equation of Q=200-1.5P, where Q is the number of sessions booked per month and P is the price per session. The clinic currently charges per session. a)What are its sales volume and total revenue per month at this price? b)What happens to volume and revenue if the price… Continue reading The price elasticity of demand

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Economic Development 12th edition

Todaro & Smith – Economic Development 12th edition Problem set – Chapter 5 1. The following income distribution data are for Brazil. Quintile Percent Share Lowest 20% 3.0% Second quintile 6.9% Third quintile 11.8% Fourth quintile 19.6% Highest 20% 58.7% Highest 10% 43.0% (a) Carefully graph the Lorenz curve, labeling the axes. (b) Explain how… Continue reading Economic Development 12th edition

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