Author: Anonymous

Table 23-5The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Year Price of Cereal Quantity of Cereal Price of Milk Quantity ofMilk 2015 $4.00 100 $1.50 180 2016 $4.00 120 $2.00 200 2017 $5.00 150 $2.50 200 2018 $6.00 180 $3.50 240 Refer to Table 23-5. In 2018, this country’s

**The consumer price index in an economy is 180 one year and 189 the next year. The rate of inflation in the economy over that year period is:  ​

For any country, if the world price of copper is higher than the domestic price of copper without trade, that country should

Suppose an economy produces only cranberries and maple syrup. In 2010, 50 units of cranberries are sold at $20 per unit and 100 units of maple syrup are sold at $8 per unit. In 2009, the base year, the price of cranberries was $10 per unit and the price of maple syrup was $15 per unit. For 2010,

Table 23-2The table below contains data for country A for the year 2010. Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $310 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1422 Government expenditures on public works $553 Transfer payments $777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120 Refer to Table 23-2. What were country A’s exports in 2010?

A U.S. firm produces nail guns in the first quarter of 2010 and adds them to its inventory. In the second quarter of 2010 the firm sells the nail guns to a U.S. construction company. In which quarter(s) is (are) GDP higher?

Exhibit 2-3 Point f in Exhibit 2-3 represents

In one week, Terry can plant 18 trees or mow 30 lawns. In one week, Bob can plant 10 trees or mow 20 lawns. In this example,      

Assume that black beans and rice are staples in the diet of one particular family. How could you tell if these goods were complements, substitutes, or unrelated goods?

Buyers are able to buy all they want to buy and sellers are able to sell all they want to sell at