Hi there, I need help with these self review questions which recap what was learned in a lecture. They are not for marks however they help you analyze the key take aways. This is a macroeconomics class and i have yet to take microeconomics which is why I find it more difficult for me to understand. Please take a look and help me so I can overlook your solutions to recap my knowledge and understanding, I really appreciate it i will be sure to leave a great rating- all the best and stay safe.
The annual output and prices of a three-good economy are shown in the table below. Price Quantity of Price Quantity of Year 1 Goods Year 1 Year 2 Goods Year 2 Bottles of Shampoo \" Jews of Peanut Butter - What was the economy's GDP in year 1? $C| What was its GDP in year 2? $C| GDP tends to underestimate the productive activity in the economy because it excludes: Multiple Choice 0 the work done by construction companies to remodel homes. spending by the government on military goods. the personal labour time homeowners spend on home repairs. 0 spending by businesses to reduce the level of pollution. The graph below shows the production possibility curves for two hypothetical nations, Orin and Pohl, which each make two hypothetical products, jaxs and keps. Which of the following statements is correct? Jaxs - N WA MONO Orin Pohl 0 1 2 3 4 5 6 7 8 Keps Multiple Choice O Orin has a comparative advantage in both jaxs and keps. O Orin is more efficient than Pohl. O Pohl has a comparative advantage in jaxs. O The opportunity cost of making jaxs is lower in Orin than in Pohl.A mathematical approximation called the Rate of 70 tells us that the number of years it will take something that is growing to double in size is approximately equal to the number 70 divided by its percentage rate of growth. For example. if Mexico's real GDP per person is growing at ? percent per year, it will take about 10 years [= 1'0 + 7] to double. Apply the Rule of?0 to solve the following problem. If real GDP per person in Mexico was $12,000 in 2008. while it was $48,000 per person in Canada, and if real GDP per person in Mexico grows at a rate of 5 percent per year. how long will it take Mexico's real GDP per person to reach the level that Canada was at in 2008? (Hint: How many times would Mexico's 2008 real GDP per person have to double in order to reach Canada's 2008 real GDP per person?) |:|vears Assume that a national restaurant firm called BBQ builds 20 new restaurants at a cost of $1 million per restaurant. It outts each restaurant with an additional $300,000 of equipment and furnishings. To partially defraglI the cost of this expansion, BBQ issues and sells 400,000 shares of stock at $35 per share. Instructions: Round your answers to one decimal place. What is the amount of economic investment that has resulted from BBO's actions? a; |:| million What is the amount of nancial investment that has resulted from 380's actions? $ |:| million
