What impact would each of following have in onreal gdp ?would economic well being increase ordecrease as a result?A. Averege, people in a country decide to increasethe number of hours they work by 5%.b. Spending on Homeland security increase inresponse to terrorist attack

Answer: (A). If the average, people in a country decide to increase the number of hours they work by…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question 3 Year pof cars g of g of cars pof computers computers 2018 $20.000 2000 units $400 500 units 2019 $20.000 4000 units $400 1000 units 2020 $40.000 4000 units $800 1000 units Use the above glven table and compute the real GDPand the rate of growth for each year.Is there a rise in society's well-being from 2009 to 2010? Discuss.
Problem 10-05 algo Nominal GDP increased from roughly $12 trillion in 2004 to $20 trillion in 2018. In the same period prices rose on average by roughly 34 percent. In percentage terms, how much did GDP increase by?
What is the effect of an increase in the population? An increase in the population _______. A. increases the supply of labor and potential GDP B. increases the real wage rate, increases firms' costs, and decreases potential GDP C. increases the supply of labor, increases labor productivity, and increases the demand for labor D. increases the real wage rate and potential GDP
Need some help! Really don't understand economics.
20) One of the key factors that determine an economy's real GDP is labor productivity, which is a meaare e a. input per hour of work. C. output per hour. b. labor force per hour. d. total hours worked.
Question 6 Among all the for-hire transportation modes, which one contributes the least to GDP? O Truck Air Warehousing and storage Water O Rail
18. If consumers in the U.S. buy $3.5 billion of clothes made by businesses in Bangladesh, how is this accounted for in the expenditure categories? a. this is spending on a consumer good so GDP rises b. the clothes are imports so they reduce GDP c. the clothes are both consumer goods and imports so GDP doesn't change d. the GDP could rise or fall, it depends on whether the clothes were taxed
If all quantities produced rise by 5 percent and allprices fall by 5 percent, which of the following bestdescribes what occurs?a. Real GDP rises by 5 percent, while nominalGDP falls by 5 percent.b. Real GDP rises by 5 percent, while nominalGDP is unchanged.c. Real GDP is unchanged, while nominal GDP risesby 5 percent.d. Real GDP is unchanged, while nominal GDP fallsby 5 percent.
An economy produces only food and fun. The table shows the quantities produced and prices in 2018 and 2019. If the base year is 2018, compare the growth rates of nominal GDP and real GDP in 2019. Question Help >>> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. In 2018 Item Quantity Price The growth rate of nominal GDP in 2019 is percent. Food 97 $2 Fun 51 $2 In 2019 Item Quantity Price Food 71 $4 Fun 67 $10 Enter your answer in the answer box and then click Check Answer. Check Answer Clear All 1 part remaining MacBook Air DD DII F11 F10 F9 F8 F7 80 F6 F5 F4 F3 F2 esc F1 & @ 7 8. ! 4 5 2 { 1 P Y E T %24 # 3
Assume a simple economy that only produces two goods for end use, beer and wine. Here is a list of production and prices in 2019 and 2020. 2019 2020 Liter Price Liter Price Wine 100 1 100 1,1 Вeer 50 1 55 1 1. How high is the growth rate in nominal and real GDP? 2. Assume that it turns out that it failed to take into account that the quality of the beer deteriorated between 2019 and 2020. It is estimated that the quality-adjusted production of beer has been constant over the two years. Show how this affects the calculation of the two growth rates.
Please give me correcta and incorrect answer Explanation Look at the data plotted in the graph. Each blue diamond represents a country. Which of the following statements best explains the relationship between per capita income and the HDI?Choose one: A. As per capita income increases, development increases at a constant rate. B. As per capita income increases, development increases at an increasing rate. C. As per capita income decreases, development decreases. D. As per capita income increases, development increases at a decreasing rate.

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What impact would each of following have in on real gdp ?would economic well being increase or decrease as a result? A. Averege, people in a country decide to increase the number of hours they work by 5%. b. Spending on Homeland security increase in response to terrorist attack