Multiple choice answers right here.. (2 Viewers)

[Shuter]

Yes lemon, what the hell are you talking about.

5.I calculated real GDP, it's change was 0.

6. D is not completely true, a quota will limit the amount of lower priced goods that can be importated and therefore the remaining quantity gap will have to be filled up by local producers. Therefore the price will change.


14. Terms of trade is Export price/Import price nothing to do with volume.

 

[Stilla]

Lemon you're a spastic. Deadset. I'm glad you don't go to my school and i'm surprised you were let into one that offers any subject that scales up.

 

[matt_f64]

lol ur a joke lemon

 

[skypryn]

lol ur a joke lemon

i'm jumpin' on the "we hate lemon for being wrong" bandwagon

 

[matt_f64]

hehe ok. i duno about "hate" but yes he is wrong, and this is a bandwagon so jump on board

 

[Rorix]

if I can further jump on board..

Real GDP = Nominal GDP/GDP deflator * 100

 

[Shuter]

if I can further jump on board..

Real GDP = Nominal GDP/GDP deflator * 100

Or one that's applicable to more situations is.

Real GDP = (Nominal GPD * CPI Previous Year)/CPI current Year

As this doesn't rely on the base year being CPI 100.

 

[Rorix]

that's actually the same thing but whatever

 

[matt_f64]

yeah it is. cos cpi this year / cpi previous.. is inflation rate for this year... so both of u r just taking away inflation from nominal gdp

 

[alcapony]

what was the answer to the MPC question for us who neglected to take the paper home?

 

[matt_f64]

u mean question 2? the answer was B and i think it was 0.6

 

[skypryn]

what was the answer to the MPC question for us who neglected to take the paper home?

something like there was investment of 100 and it rose equlibrium income to 250. what is MPC.

250 / 100 = k = 2.5

k = 1 / (1-MPC)

1-MPC = 1/2.5

MPC = 1 - 1/2.5

MPC = 0.6

 

[Seabiscuit]

Question 1 has to be D, otherwise we can all sue Leading Edge because we use their book at school and i swear its definition of the IMF is exactly the same as given in D.

 

[username]

It is d if you look at my bloody post. We fixed that up i said it was a typo.