not use ai please A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.3 unitof manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 unit of agricultural products and 0.3 unit of manufactured goods.(a) Find the total output of goods needed to satisfy a consumer demand for $110 million worth of agricultural products and $200 million worth of manufactured goods. (Round your answersto one decimal place.)agricultural productsmanufactured goods$$millionmillion(b) Find the value of the goods consumed in the internal process of production in order to meet the gross output. (Round your answers to one decimal place.)millionagricultural products$manufactured goods$million

The problem presented involves an economy with two industries, agriculture and manufacturing. The…

Answered: A simple economy consists of two…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Classify each of the following items as a final good or an intermediate good, and classify the expenditure on each final good as consumption expenditure or investment: Item 1. New aircraft bought by Southwest Airlines Item 2. Jet engines bought by Boeing Item 3. The ringtone you bought today Item 4. A new apartment building Item 1 is _______ and item 2 is _______. A. an intermediate good; an intermediate good B. a final good that is investment; an intermediate good C. a final good that is investment; a final good that is consumption expenditure D. an intermediate good; a final good that is consumption expenditure Item 3 is _______ and item 4 is _______. A. a final good that is consumption expenditure; a final good that is investment B. a final good that is consumption expenditure; an intermediate good C. a final good that is investment; a final good that is investment D. a final good that is…
An automobile manufacturer uses labor, capital, and a variety of intermediate goods in the production of cars. The car requires $4,000 of steel, $6,000 seats, $10,000 of electronics, $2,000 tires, $10,000 of labor, $5,000 of capital and has a 20% sales markup to consumers. a. What is the total value of intermediate goods? b. What are the total payments to factors of production? c. What is the total value of sales? d. What is the value of GDP from the sale of this car?
Subject: Business Economics Q): An economy produced three goods: organ, apple & organ juice. It is assumes that half of the organ are bought & consumed as final good, the other half is used to produce organ juice. In 2019, 20 KG of organ are produced at RS. 50/kg. 40kg of apple are produced at 100/kg, & 25 glasses of organ juice are produced at Rs.200/ glass. In 2020, 40 KG of organ are produced at RS. 80/kg. 60kg of apple are produced at 110/kg, & 30 glasses of organ juice are produced at Rs.195/ glass. Assuming 2019 as base year, Calculate real, nominal GDP & GDP deflator in 2019 & 2020.
If there are only two goods, apples and bikes produced in the economy; in 2015 total production of apples was 1000 tones and price of apple is $2 per tone; total production of bikes was 100 units and price of bikes was $500 per unit. in 2016 total production of apples was 1500 tones and price of apple is $3 per tone; total production of bikes was 110 units and price of bikes was $600 per unit. According to the information above, please calculate the cost of the basket in 2016. O a. 7500 O b. 7000 OC. 3500 O d. 3000
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Question 25
Again, please work with the following data set. It describes production of the only three goods made by Economy Zeta, along with their prices, for each of three years. Quantity Price of Quantity of Price of Quantity of Price of of Food Food Energy Energy Shelter Shelter 2018 800 $5 1000 $10 200 $100 2019 850 $6 1100 $12 240 $100 2020 850 $7 1200 $14 300 $100 Year Economists estimate that the average person in this economy consumes 12 units of food, 20 units of energy, and 2 units of shelter over the relevant period. 2018 is the base year. Using the GDP deflator, the inflation rate between 2018 and 2019 for this nation is ______________ percent. (Enter your answer "as a percent, but without the percentage sign." If you think the inflation rate is 99.99 percent, enter only 99.99 in the blank.)
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. Product Shoes Hamburgers Shirts Cotton 2012 Statistics Quantity 90 85 70 12,000 Price $50.00 3.00 40.00 0.09 2020 Statistics Quantity 100 120 60 12,000 2021 Statistics Quantity 100 135 85 13,000 Price $60.00 3.00 35.00 0.07 (round your answer to the nearest penny) and the real GDP for 2021 equals $ (round your answer to the nearest penny). a. If the base year is the year 2012, then real GDP for 2020 equals $ b. The (annual) growth rate of real GDP in 2021 is%. (Enter your response as a percentage rounded to two decimal places.) Price $65.00 3.50 35.00 0.08
Suppose the intormation in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2012 Statistics 2020 Statistics 2021 Statistics Product Quantity Price Quantity Price Quantity Price Shoes 90 $50.00 100 $60.00 100 $65.00 Hamburgers Shirts 85 3.00 120 3.00 135 3.50 70 40.00 60 35.00 85 35.00 Cotton 10,000 0.08 8,000 0.06 12,000 0.07 a. If the base year is the year 2012, then real GDP for 2020 equals $ answer to the nearest penny). (round your answer to the nearest penny) and the real GDP for 2021 equals $ (round your b. The (annual) growth rate of real GDP in 2021 is %. (Enter your response as a percentage rounded to two decimal places.)
5. Find the equilibrium output for the following economy C = 120 + 0.5(Y – T); I = 250 – 10r; G = 50; 400; P= 2; T = 40; ()d = 1000 – 200r; M =
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2020 Statistics 2021 Statistics Quantity 2012 Statistics Product Quantity Price Quantity Price Price $50.00 $65.00 Shoes Hamburgers Shirts Cotton $60.00 2.00 90 100 100 100 75 2.00 30.00 0.09 120 2.25 50 50 25.00 65 25.00 11,000 10,000 0.08 11,000 0.07 a. If the base year is the year 2012, then real GDP for 2020 equals $ 6700 (round your answer to the nearest penny) and the real GDP for 2021 equals $ (round your answer to the nearest penny).
question: a) An economy produces three goods: organ, apple and organ juice. It is assumed that half of the organ are bought and consumed as final good; the other half is used to produce organ juice. In 2019, 20 KGs of organ are produced at Rs.50/kg, 40 KGs of apple are produced at 100/kg, and 25 Glasses of organ juice are produced at Rs.200/glass. In 2020, 40 KGs of organ are produced at Rs.80/kg, 60 KGs of apple are produced at 110/kg, and 30 glasses of organ juice are produced at Rs.195/glass. Find the following: Assuming 2019 is the base year; calculate the real and nominal GDP in 2019 and 2020. b) Assume the number of employed people in Pakistan is 22.5 million in 2020. The number of unemployed people during 2020 in Pakistan is 6 million, and the labor force participation rate is 60 percent. What is unemployment rate, size of the labor force and working age-population in the year…

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