MacroEco Project

MacroEco Project - 1 The student will measure aggregate...

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1. The student will measure aggregate economic performance. The student will be able to: a. calculate, given appropriate data, the national income accounts; b. compute, given appropriate data, real GDP; c. compute, given appropriate data, a current year index number.
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2. The student will evaluate the productive capacity of the economy. The student will be able to: a. analyze aggregate supply; b. describe resources; c. identify sources of economic growth. (c) 2010 Dow Jones & Company, Inc. Reproduced with permission of copyright owner. Further reproduction or distribution is prohibited without permission. Jeff Dolan's tomatoes in San Joaquin Valley are ripening and ready to pick this week. But that puts him in a pickle. In California, harvest time is arriving just as tomato growers in other parts of the U.S. are reeling from a sudden supply glut that is pushing the price for fresh tomatoes sharply lower. Florida farmers who fetched more than $30 a few months ago for a 25-pound box of round, fresh field-grown tomatoes, also known as slicer tomatoes, are now getting $5 or less. The abundant crop is rooted in last winter's cold weather in Florida, which delayed the development of tomato plants. The overdue harvest hit the market in May just as DiMare Co., where Mr. Dolan oversees California field operations, was picking tomatoes near Palm Springs. "Prices dropped like a rock" after the harvest began, he says. As a result, at least 40% of the revenue that DiMare hoped to get from that part of California could vanish. Now the impact is rippling across the country as the growing season moved to other regions, including Mr. Dolan's tomatoes in the San Joaquin Valley. The tomato surplus also means that food banks are getting a mountain of the fruit, often
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This note was uploaded on 11/21/2010 for the course ECO 1306 taught by Professor Williams during the Spring '10 term at Tarrant County.

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MacroEco Project - 1 The student will measure aggregate...

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