(a) To explain: Whether the real GDP can be more than the nominal GDP of the next year.

Question

Exercise 5Consider the demand and supply functions for the notebooks market.QD=10,000−100pQS=900pa. Make a table with the corresponding supply and demand schedule.b. Draw the corresponding graph.c. Is it possible to find the price and quantity of equilibrium with the graph method? d. Find the price and quantity of equilibrium by solving the system of equations.

Answer 1

Question

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

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Exercise 5Consider the demand and supply functions for the notebooks market.QD=10,000−100pQS=900pa. Make a table with the corresponding supply and demand schedule.b. Draw the corresponding graph.c. Is it possible to find the price and quantity of equilibrium with the graph method? d. Find the price and quantity of equilibrium by solving the system of equations.

1. Consider the market supply curve which passes through the intercept and from which the marketequilibrium data is known, this is, the price and quantity of equilibrium PE=50 and QE=2000.a. Considering those two points, find the equation of the supply. b. Draw a graph for this equation. 2. Considering the previous supply line, determine if the following demand function corresponds to themarket demand equilibrium stated above. QD=.3000-2p.

Supply and demand functions show different relationship between the price and quantities suppliedand demanded. Explain the reason for that relation and provide one reference with your answer.

Answer 2

Question

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

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Answer 3

Question

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

Expert Solution & Answer

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Answer 4

Question

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

Expert Solution & Answer

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Answer 5

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

Answer 6

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

Answer 7

Chapter 11, Problem 11P

To determine

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

Answer 8

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

Answer 9

To determine

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

Answer 10

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

Answer 11

To determine

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

Answer 12

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

Answer 13

To determine

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

Answer 14

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Ch. 11 - Prob. 1P Ch. 11 - Which of the following are included in GDP...Ch. 11 - Prob. 3P Ch. 11 - Prob. 4P Ch. 11 - Prob. 5P Ch. 11 - Prob. 6P Ch. 11 - Prob. 7P Ch. 11 - Prob. 8P Ch. 11 - Prob. 9P Ch. 11 - Nominal GDP in Nowhereland in 2018 and 2019 is as...

(a) To explain: Whether the real GDP can be more than the nominal GDP of the next year.

Solution Summary: The author explains nominal and real GDPs, and if they can be more than the nominal GDP of the next year.

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.

Chapter 11 Solutions

(a) To explain: Whether the real GDP can be more than the nominal GDP of the next year.

Solution Summary: The author explains nominal and real GDPs, and if they can be more than the nominal GDP of the next year.

(a) To explain: Whether the real GDP can be more than the nominal GDP of the next year.

(b) To explain: Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

(c) To explain: Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

(d) To explain: The way varying leisure amounts can affect the comparisons of real well-being.

Chapter 11 Solutions

(a)

To explain:

Whether the real GDP can be more than the nominal GDP of the next year.

(b)

To explain:

Whether the real gross domestic product can increase while the real gross domestic product per capita falls.

(c)

To explain:

Whether at the time when the real GDP per capita falls the real consumption possibilities can expand.

(d)

To explain:

The way varying leisure amounts can affect the comparisons of real well-being.