1. Suppose the data for a hypothetical economy is given above. This economy produces only 3 things, pizzas, haircuts and tanks. The base year is 2019.

1. Calculate GDP deflator in 2020. Based on GDP deflator, what is the inflation rate from 2019 to 2020?
2. Suppose a representative consumer basket consists of 10 pizzas and 20 haircuts. Using this consumer basket, calculate CPI in 2020 (again, assuming 2019 is the base year). Based on CPI, what is inflation rate?
3. Why do you think there is such a dramatic difference in the inflation rates from parts a and b?

Companies collect a wide variety of information about their foreign markets to decide in which countries to conduct business and which market segments in these markets they should target. What are the three major markets that exist in all foreign markets? Describe the markets and provide an example of each.

For this discussion question, you must support your analysis with a peer-reviewed article.

What factors contributed to the stagflation of the 1970s? How did Volker deal with the high inflation? Did high oil prices cause the stagflation or was it something else? Is the Fed independent? If so, how do our leaders ensure they maintain the best interests of the public? How does Milton Friedman establish his view that inflation is a monetary issue? According to Friedman, do trade unions cause inflation by pushing up wages and the cost of production?

An economy has a Cobb–Douglas production function:

Y=K^α(LE)^1-α

The economy has a capital share of 0.35, a saving rate of 43 percent, a depreciation rate of 3.50 percent, a rate of population growth of 3.50 percent, and a rate of labor-augmenting technological change of 2.5 percent. It is in steady state.

a.) Solve for capital per effective worker (k*), output per effective worker (y*), and the marginal product of capital.

K*=?

y*=?

marginal product of capital= ?

Microeconomics

How does monopolistic competition differ from perfect competition? “

As monopolistic competition leads to excess capacity, there will be an unambiguous social gain if government regulation reduces the number of firms and eliminates excess capacity.”

What is meant by excess capacity? Demonstrate (on a graph) that monopolistic competition leads to excess capacity.

Do you agree or disagree with the statement’s policy recommendation? Why? Explain?

Suppose that a country’s inflation rate increases sharply. Explain what happens to inflation tax on the holders of money? .  Can you think of anyway in which holders of savings accounts are hurt by the increases in the inflation Rate?

Explain the three tools the Federal Reserve has at its disposal to raise or lower interest rates.

Assume the short run variable cost function for Japanese beer is VC=0.5q^0.67

If the fixed cost​ (F) is $1500 and the firm produces 600​units, determine the total cost of production​ (C), the variable cost of production​ (VC), the marginal cost of production​ (MC), the average fixed cost of production​ (AFC), and the average variable cost of production​ (AVC). What happens to these costs if the firm increases its output to 650?

Assuming the firm produces 600 units, the variable cost of production​ (VC) is

VC=???????. ​ (Enter your response rounded to two decimal​places.)

The total cost of production​ (C) is C=$????.?? ​(Enter your response rounded to two decimal​ places.)

The marginal cost of production​ (MC) is MC=​$?.?? ​(Enter your response rounded to two decimal​ places.)

The average fixed cost of production​ (AFC) is AFC=​$?.??   ​(Enter your response rounded to two decimal​ places.)

The average variable cost of production​ (AVC) is AVC=​$?.??​(Enter your response rounded to two decimal​ places.)

Now suppose the firm increases output to 750 units.

The variable cost of production​ (VC) is VC=​$???.?? ​(Enter your response rounded to two decimal​ places.)

The total cost of production​ (C) is C=​$????.?? ​(Enter your response rounded to two decimal​ places.)

The marginal cost of production​ (MC) is MC= $?.??  ​(Enter your response rounded to two decimal​ places.)

The average fixed cost of production​ (AFC) is AFC=​$?.??     ​(Enter your response rounded to two decimal​ places.)

The average variable cost of production​ (AVC) is AVC=​$?.??   ​(Enter your response rounded to two decimal​places.)

Assume that you are going to start a small business of your own.

Describe the business and discuss the following:

1. What costs you would incur;
2. What competition you might experience;
3. How you would determine the price you would sell your product; and,
4. How much product you would produce?

Two related long-term concepts are those of economic growth and the natural rate of unemployment. Frequently, policymakers target these well-known indicators.

(a) Explain how the following policy actions affect the rate of economic growth.

i.Investment tax credits encourage firms to increase spending on research and development.

ii.Marginal tax cuts combined with increased government spending cause the federal budget deficit to rise.

iii.Increased access to government grants allow greater access to higher education and vocational training. Identify how the f

b) Identify the following policy actions affect the long-run Phillips curve and the natural rate of unemployment.

i.Unemployment benefits are extended from 27 to 54 weeks.

ii.Frictional and structural unemployment decrease due to federal work programs.

What would be appropriate fiscal ( expansionary or contractionary ) policy for our economy right now? and why?

Please provide a PESTEL analysis on Bayer the pharmaceutical company.

describe the three basic requirements/tests for a general partnership.