Principles of Macroeconomics 2e
2nd Edition
ISBN: 9781947172388
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
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Chapter 6, Problem 2SCQ
Which of the following are included in
- The cost of hospital stays
- The rise in life expectancy over time
- Child care provided by a licensed day care center
- Child care provided by a grandmother
- A used car sale
- A new car sale
- The greater variety of cheese available in supermarkets
- The iron that goes into the steel that goes into a refrigerator bought by a consumer.
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Without Trade
Production
Consumption
With Trade
Production
Everglades
Denali
Shorts
(Millions of
Almonds
Shorts
Almonds
pairs)
(Millions of
pounds)
(Millions of
pairs)
(Millions of
pounds)
12
16
5
30
12
16
5
30
64
0
0
20
Trade action
Imports 13 ▼
Exports 39▾
Imports 13 ▼ Exports 39
Consumption
Gains from Trade
Increase in
Consumption
Chapter 6 Solutions
Principles of Macroeconomics 2e
Ch. 6 - Country A has export sales of 20 billion,...Ch. 6 - Which of the following are included in GDP, and...Ch. 6 - Using data from Table 19.5 how much of the nominal...Ch. 6 - Without looking at Table 19.7, return to Figure...Ch. 6 - According to Table 19.7, how often have recessions...Ch. 6 - According to Table 19.7, how long has the average...Ch. 6 - According to Table 19.7, how long has the average...Ch. 6 - Is it possible for GDP to rise while at the same...Ch. 6 - The Central African Republic has a GDP of...Ch. 6 - Explain briefly whether each of the following...
Ch. 6 - What are the main components of measuring GDP with...Ch. 6 - What are the main components of measuring GDP with...Ch. 6 - Would you usually expect GDP as measured by what...Ch. 6 - Why must you avoid double counting when measuring...Ch. 6 - What is the difference between a series of...Ch. 6 - How do you convert a series of nominal economic...Ch. 6 - What are typical GDP patterns for a high-income...Ch. 6 - What are the two main difficulties that arise in...Ch. 6 - List some of the reasons why economists should not...Ch. 6 - U.S. macroeconomic data are among the best in the...Ch. 6 - What does GDP not tell us about the economy?Ch. 6 - Should people typically pay more attention to...Ch. 6 - Why do you suppose that U.S. GDP is so much higher...Ch. 6 - Why do you think that GDP does not grow at a...Ch. 6 - Cross country comparisons of GDP per capita...Ch. 6 - Why might per capita GDP be only an imperfect...Ch. 6 - How might you measure a green GDP?Ch. 6 - Last year, a small nation with abundant forests...Ch. 6 - The prime interest rate is the rate that banks...Ch. 6 - A mortgage 105m is a loan that a person makes to...Ch. 6 - Ethiopia has a GDP of 8 billion (measured in U.S....Ch. 6 - In 1980, Denmark had a GDP of 70 billion (measured...Ch. 6 - The Czech Republic has 3 GDP of 1,800 billion...
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