- Suppose that in 2013, the economy produced 10 shirts at $20 each and 5 hamburgers at $5 each. In 2014, the economy produced 15 shirts at $21 each and 10 hamburgers at $6 each. What is the value of real GDP produced in 2014 using 2013 as the base year? What would be the growth in real GDP?
- Why is there unemployment even when the economy is at “full employment”? What are some “costs of unemployment”?
- Use the table below:
- What is the inflation rate from 2010 to 2011?
- Suppose that you have an income of $30,000 in 2008. How much would you need to be able to have the same standard of living in 2009?
- What are some of the problems with using the CPI as a measure of standard of living?
- Explain some limitations of using GDP as an indicator of standard of living (be sure to do some research on your own).
Make sure you cite all resources you use and provide a reference list at the end of your paper.
Length: 4–5 typed and double-spaced pages.
In addition to the overall quality, depth, grammar, and organization of the paper, the following will, in particular, be assessed:
- The level of your understanding of the key concepts of the major macroeconomic indicators.
- Some in-text references to modular background readings (APA formatting encouraged).
Have troubles with paper writing? You’ve found the right paper writing company! We are the leading essay writing services that provides quality papers for a reasonable price. On our website, you can order various assignments. Our work is 100% original. We write your essay from scratch, according to the exact specifications of your assignment. We guarantee it will pass any plagiarism check
Get Your Assignments Completed by Expert Writers. Hire Essay Helpers for Any Task
Order essays, term papers, research papers, reaction paper, research proposal, capstone project, discussion, projects, case study, speech/presentation, article, article critique, coursework, book report/review, movie review, annotated bibliography, or another assignment without having to worry about its originality – we offer 100% original content written completely from scratch