Suppose that a simple economy produces only four goods and services: shoes, DVDs, tomatoes, and ketchup. Year 1 is the base y, Describe the behavior of consumption, investment, labor, productivity, wages, the price level, and the money supply over the business cycle both in terms of correlation, magnitude, and lead vs lag. For example, in 2012, the money supply was $400, the price of a pen was $5.00, and the economy produced 800 pens. People in this economy save 36 cents of each dollar of income they receive. a. velocity b. money c. price level d. output, Consider a firm that has just built a plant, which costs $1,000. What is the opportu, Consider a simple economy that produces two goods: cupcakes and muffins. Velocity of Money In the table below, you will determine several points on the firm's demand curve for labor. Question: Consider a simple economy that produces only pens. In year 1, the quantity produced is Q_1 and the price is P_1. The following table contains information on the economy's money supply, velocity of money, price level, and output. 200 294 Determine the opportunity cost of skateboards in E, In the simple circular-flow diagram, the participants in the economy are households and firms. Plot these production possibilities, label the points, and draw the PPF (put good B on the x-axis). . The inflation rate from 2012 to 2013 was . 4. Since the GDP is the sum, A: Macroeconomic Equilibrium - At the intersection of the AD and AS curves, macroeconomic equilibrium, A: Option (d) is correct. d. the relationship between resources and t. Consider a simple economy that produces two goods: pencils and envelopes. Last year, she purchased $7,000 worth of scrap metal. Quantity of Money The following table shows the prices and quantities of the goods over a three year period. 15% b. To compute the percentage change in the price level from 2012 to 2013, use the following equation: The following table shows the prices and quantities of the goods over a three-year period. To calculate the velocity of money, divide the value of output The following table contains information on the economy's money supply, velocity of money, price level, and output. Suppose an economy produces only food and housing. Consider a simple economy that produces two goods: apples and oranges. nominal GDP options for YEAR 2018 are (85.00 OR 7,560.00 OR 7,200.00 OR 89.00) If the base year is the year 20. What is the variable cost when producing 10 units of output? Calculate the average fixed cost of producing 10 units of output. b. why specific flows occur. 5% For example, in 2012, the money s, Consider a simple economy that produces only pies. Consider a simple economy that produces only pens. r=0.047 MPC=0.7 The inflation rate from 2019 to 2020 was . Price The following table contains information on the economy's money supply, velocity of money, price level, and output. One of the most useful resource available is 24/7 access to study guides and notes. Suppose the quantity of money in an economy is $500,000 and the velocity of circulation of money (V) is 5 and the output to be transacted (T) is 250,000 units. C. maximizing the returns to factors of production. (Dollars) L W MP 1 10 25.0 2 15 22.5 3 20 20.0 4 25 17.5 5 30 15.0 6 35 12.5 7 40 10.0 8 45 7.5 9 50 5.0 Assuming the market price of the output is $3.00 per unit, answer the followings. Cost of physical capital. Number of Worker Hours Output Marginal Product, The circular flow of economic activity can be summed up as: A. The goods that a society can produce and how these goods change in the course of time. B. {/eq} (A) increased (B) Decreased (C) remained the same, the change in the money supply was reflected 7) {eq}\_\_\_\_ a. turnover b. elasticity c. velocity d. transfer.
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