A general motors sells 20 million worth of 2017 new

Info icon This preview shows pages 7–11. Sign up to view the full content.

View Full Document Right Arrow Icon
a. General Motors sells $20 million worth of 2017 new car inventory $__________ b. A corporation issues $20 million in new common stock. $__________ It uses $12 million to build a new world headquarters, $3 million to purchase new equipment, and $5 million to repay bank loans c. The purchase of a two-year old office building for $4,000,000; $__________ the purchase price is 50% of appraised value d. The purchase of 100 acres of unimproved land for $100,000 $__________ e. A household purchases a newly-built house for $300,000 $__________ f. A general contractor does $30,000 worth of remodeling to a house $__________ g. A household invests $10,000 in a new surround-sound stereo $__________ entertainment system for their Naples home h. A German firm builds a $20 million apartment complex in Lee County $__________ i. Florida SouthWestern State College builds a $20 million dormitory. $__________ j. A hurricane destroys a $20 million office building in Collier County $__________ NAME: __________________________ PROF. H.J. VAN BOVEN CLASS DAYS & TIME: ____________ ECO 2013 / MACRO
Image of page 7

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
APPLIED LEARNING PROBLEM SET (2 pages) Chapter 8: Economic Growth 1. A nation’s standard of living depends on its ability to produce goods and services . a. Economic growth is defined and measured as the annual percentage increase in GDP over time. b. In the long run, a key statistic for a nation’s standard of living is GDP per capital. In the United States since 1950, c. real GDP has increased at an average annual rate of about __________% per year d. real GDP per capita has increased at an average annual rate of about __________% per year e. The real GDP growth rate minus the real GDP per capita growth rate (i.e., c d) equals the ___________________________________ growth rate. 2. Economic growth and the rule of 70 . In 2017 Richistan’s real GDP was $12 trillion and Floridastan’s real GDP was $1.5 trillion. Richistan has an average annual growth rate of real GDP equal to 3.5% and Floridastan has an average annual growth rate of real GDP equal to 7%. Must show calculations for a, b, c, and d a. Richistan’s real GDP will double in about __________ years. b. Floridastan’s real GDP will double in about __________ years. c. After 60 years, Richistan will have a real GDP equal to $__________ trillion.
Image of page 8
d. After 60 years, Floridastan will have a real GDP equal to $__________ trillion. -2- Ch8 3. The four supply factors of economic growth are: a. Changes in the quantity and quality of resources. b. Changes in the quantity and quality of human resources c. Changes in the stock of capital goods d. Improvement in technology 4. In 1820 living standards in various places around the globe were ______________ they are today. a. more widely varied than b. just as widely varied as c. less widely varying than 5. Accounting for growth a. The most important source of U.S. economic growth is increases in labor productivity. b. The largest contributor to increases in U.S. labor productivity is technological advancement. 6. Immigration has slowed economic growth in the United States. In 25 words or more explain if you agree or disagree. Please indicate your word count. Word Count: __________
Image of page 9

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
NAME: __________________________ PROF. H.J. VAN BOVEN CLASS DAYS & TIME: ____________ ECO 2013 / MACRO APPLIED LEARNING PROBLEM SET (3 pages) Chapter 9: Business Cycles, Unemployment, and Inflation 1. Business cycle and GDP Go to the Bureau of Economic Analysis web site, www.bea.gov. On the homepage click the
Image of page 10
Image of page 11
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern