The following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Year Dollars) 2010 100 104 2011 2012 103 2013 106 2014 109 2015 112 2016 111 2017 110 a) Which years are peaks? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? 2010 ? 2016 7 2011 2 2012 2 2017 ? 2015 ? 2014 2 2013

The following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Year Dollars) 2010 100 104 2011 2012 103 2013 106 2014 109 2015 112 2016 111 2017 110 a) Which years are peaks? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? 2010 ? 2016 7 2011 2 2012 2 2017 ? 2015 ? 2014 2 2013

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Dollars) Year 2010 100 2011 104 2012 103 2013 106 2014 109 2015 112 2016 111 2017 110 a) Which years are peaks? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? 2010 ? 2016 ? 2011 ? 2012 ? 2017 ? 2015 ? 2014 ? 2013
A manager checked production records and found that a worker produced 225 units while working 50 hours. In the previous week, the same worker produced 160 units while working 40 hours. a. Compute current period productivity and previous period productivity. (Round your answers to 2 decimal places.) b. Did the worker's productivity increase, decrease, or remain the same? (Round your intermediate calculations and final answer to 2 decimal places. Omit the "%% sign in your response.) I
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A price is a statement of average prices relative to a base year value of a. deflator; 100 b. index; 100 c. deflator; 1,000 d. index; 1,000
A manager checked production records and found that a worker produced 225 units while working 50 hours. In the previous week, the same worker produced 156 units while working 40 hours. a. Compute Current period productivity and Previous period productivity. (Round your answers to 2 decimal places.) Current period productivity Units / hour Previous period productivity Units / hour
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