Why the economic growth must have been high
In 2012 the Real GDP was $15.5 trillion. This value is a large number. Therefore, economic growth must have been high during the 2012. Briefly describe whether you agree or disagree with this statement.
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Discuss the following puzzle: Saving depends positively on the interest rate, investment depends negatively on the interest rate, and saving equals investment.
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A firm sells its product in a completely competitive market where other firms charge a price of $130 per unit. The firm's total costs are C (Q) = 40 + 10Q + 2Q2.
What affect do you think this would have had on you and your purchase if a trade restraint (i.e. a quota or tariff) were imposed on the product you identified?
Demand and Supply in the Cell Phone Market. (Make sure to include a graph with quantity and the initial equilibrium price and the new price and quantity as well as an explanation to support your answer for each question.)
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Gizmo and Co. is major player in nationwide market for Gizmos. They manufacture 14,000 Gizmos every year. Their number of defects per year is normally distributed with mean 3,000 units and standard deviation 500.
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