Macroeconomics (9th Edition)
9th Edition
ISBN: 9780134167398
Author: Andrew B. Abel, Ben Bernanke, Dean Croushore
Publisher: PEARSON
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Question
Chapter 15, Problem 5NP
a)
To determine
To find: The equilibrium value of output.
b)
To determine
To find: The equilibrium value of real wage, employment, N and output when 25% tax on wage is levied.
c)
To determine
To know: The equilibrium value of real wage, employment, N and output when 50% tax is levied on wages.
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Active Learning 4: Computing GDP
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2021
(base year)
2022
2023
P
Q
P
Q
P
Q
$1 900
$2 1,000
$3
1,250
200 $1,200
210
Smartphones $900 185 $1,000
Use the above data to solve these problems:
A. Compute nominal GDP in 2021.
B. Compute real GDP in 2022.
C. Compute the GDP deflator in 2023.
Mankiw, Principles of Macroeconomics, 10th Edition. 2024 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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Chapter 15 Solutions
Macroeconomics (9th Edition)
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