« previous next »

Author Question: For the following questions, suppose an economy produces only pens and pencils, and that the ... (Read 66 times)

chads108

  • Hero Member
  • *****
  • Posts: 507
on: Jun 30, 2018
For the following questions, suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table
 
  pens pencils
  Year 1 quantity 15 10
  Year 1 price 12 12
  Year 2 quantity 17 12
  Year 2 price 14 15
 
  What is the real GDP in year 2 using base year 1?
  A) 418
  B) 300.
  C) 360.
  D) 338.

Question 2

According to rational expectations, expectations will only change in the event that ________.
 
  A) wealth changes
  B) current income changes
  C) permanent income changes
  D) unanticipated new information arises


recede

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

There are 60,000 miles of blood vessels in every adult human.

X chromosome inactivation in female mammals produces the Barr Body. X chromosome inactivation in female mammals produces the Barr Body.
Social History Questions Social History Questions
Word Problems Algebra Questions Help pls Word Problems Algebra Questions Help pls
Physics questions 3 and 5 Physics questions 3 and 5
HELP PLEASE 13 QUESTIONS HELP PLEASE 13 QUESTIONS
Flowchart illustrating how genetic information encoded in DNA produces protein Flowchart illustrating how genetic information encoded in DNA produces protein
Video: hGH, Thyroid hormones & Aldosterone

For a complete list of videos, visit our video library