Gdp rises from 6 trillion in 2001 base year to 12 trillion
GDP rises from 6 trillion in 2001, base year, to 12 trillion in 2008. the gdp deflator is 180. Find real GDP in 2008. Find the percentage increase in real gdp between 2001 and 2008.
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U.S. real gross domestic product increased from $10 trillion in 2000 to $15 trillion in 2010. During that same decade the share of manufactured goods (e.g., cars, appliances) fell from 16 percent to 12 percent.
In comparing two otherwise identical industries X and Y, an economist finds that labor demand is more elastic in industry X. Which of the following would support this finding?
A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2. Find the output that maximises this monopolist’s profits. What are the prices at profits and that output? Find the elasticity of demand at the profit maximising output.
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