Q: What are the main types of income included in national income?
What are the main types of income included in national income? Why doesn’t national income equal GDP?
See AnswerQ: How do macroeconomists distinguish between nominal and real values of variables?
How do macroeconomists distinguish between nominal and real values of variables? Does nominal GDP or real GDP provide a better picture of changes in economic activity and economic well-being? Why?
See AnswerQ: Consider the following diagram of a small open economy: a
Consider the following diagram of a small open economy: a) Calculate net exports and the capital outflow when the world real interest rate is 7%. b). Calculate net exports and the capital outflow whe...
See AnswerQ: Describe the GDP deflator and the personal consumption expenditure deflator.
Describe the GDP deflator and the personal consumption expenditure deflator.
See AnswerQ: What is the consumer price index, who calculates it, and
What is the consumer price index, who calculates it, and how is it calculated and used to measure the inflation rate?
See AnswerQ: Suppose Japan has a GDP of $5 trillion, and that
Suppose Japan has a GDP of $5 trillion, and that its national savings rate is 25%. a) Calculate Japan’s national saving. b) Calculate Japan’s government saving if private saving is $800 billion.
See AnswerQ: Go to the St. Louis Federal Reserve FRED database, and
Go to the St. Louis Federal Reserve FRED database, and find data on exports (BOPXGS) and imports (BOPMGS). a) Calculate net exports for the most current period available. Is the United States currentl...
See AnswerQ: What causes desired saving to increase? What effects will an increase
What causes desired saving to increase? What effects will an increase in desired saving have in a closed economy?
See AnswerQ: What key assumption of classical economists provides the basis for their analysis
What key assumption of classical economists provides the basis for their analysis of the relationship between money and other economic variables?
See AnswerQ: What is the business cycle? Which part of the business cycle
What is the business cycle? Which part of the business cycle is of particular concern to macroeconomists? Why?
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