Questions from Macroeconomics

Q: Real GDP grew 1 percent in 2013. Business investment increased 3

Real GDP grew 1 percent in 2013. Business investment increased 3.2 percent, exports grew 1.6 percent, and imports rose by 2.2 percent. Use the flows in the figure below to identify each flow in the...

Q: Tropical Republic produces only bananas and coconuts. The base year is

Tropical Republic produces only bananas and coconuts. The base year is 2013. Calculate nominal GDP in 2013 and 2014.

Q: Tropical Republic produces only bananas and coconuts. The base year is

Tropical Republic produces only bananas and coconuts. The base year is 2013. Calculate real GDP in 2014 in base-year prices.

Q: An island economy produces only fish and crabs. /

An island economy produces only fish and crabs. Calculate the island’s chained-dollar real GDP in 2014 expressed in 2013 dollars.

Q: List some examples of the scarcity that you face.

List some examples of the scarcity that you face.

Q: Which of the following pairs does not match? a.

Which of the following pairs does not match? a. Labour and wages b. Land and rent c. Entrepreneurship and profit d. Capital and profit

Q: Apple Inc. decides to make iTunes freely available in unlimited quantities

Apple Inc. decides to make iTunes freely available in unlimited quantities. a. Does Apple’s decision change the incentives that people face? b. Is Apple’s decision an example of a microeconomic or a m...

Q: / Draw a graph of the relationship between the revenue

Draw a graph of the relationship between the revenue per theatre on the y -axis and the number of theatres on the x -axis. Describe the relationship.

Q: According to the News on page 109, do per capita GDP

According to the News on page 109, do per capita GDP data (A) overstate or (B) understate the rise in the U.S. well-being since 1990?

Q: Where do growing companies like Google and Facebook get their employees?

Where do growing companies like Google and Facebook get their employees? What were those workers doing before?