Net price calculators, what in the world are they? Students and parents who have
questions about the financially expenses can get on a net price calculator and see what
the cost of college is estimated to be. These amazing Net Price Calculators can
1. A. A U.S. penny is considered money in the U.S. economy because it is currency
that is a medium of exchange and can be directly used for purchases.
B. A Mexican Peso is not considered money in the U.S. economy because it
cannot be directly used to purc
3. Defined by a macroeconomist, saving is what happens when a persons income is greater
than spending. They have extra money at the end of the payment period and are able to put it
aside. An investment is when a person or business buys new capital.
1. Adult population 244,662,000
Labor force 155,654,000
Participation rate 63.6%
Unemployment rate 7.9%
4. A. If they immediately start looking for work, the unemployment rate will rise but
the employment-population ratio will fall.
B. If some of the work
2. a. If society were to increase investment, the stock of capital rises and each
worker would be able to get more equipment and machines, making them all
more productive. If the productivity were to rise, the output would be much
greater than before.
2. A) In 2013, cauliflower was $2 a head, broccoli was $1.50, and carrots were $.10.
In 2014, cauliflower was $3 a head, broccoli was $1.50, and carrots were $.20.
2013 - $325
2014 - $445
B) In the base year, 2013, the GDP was 100. In 2014 the GDP was 136
1. A) Mystery novels would have a more elastic demand than required textbooks. Mystery
novels are not a required good, but the textbooks are a necessity. If the price of
textbooks were to rise, students would still have to purchase them, but if the price
I is the point impossible to reach.
F is feasible but inefficient.
The Hawks would receive the bigger peace dividend because the opportunity cost of butter is
smaller at point H.
3.Cleanliness of environment
a. Nominal GDP = P x Y = $10,000
Y = real GDP = $5,000
P = (P x Y )/Y = = $10,000/$5,000 = 2.
V = (P x Y )/M = $10,000/$500 = 20.
b. M and V are unchanged and Y rises by 5% - M x V = P x Y, P must fall by 5%.
Because of this, nominal GDP would