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One good corne The economy has enough labor, capital, and land to produce Y= 800 bushels of corn. Vis constant. In 2008, MS =
One good corne The economy has enough labor, capital, and land to produce Y= 800 bushels of corn. Vis constant. In 2008, MS = $2000, P= $5/bushel. For 2009, the Fed increases MS by 5%, to $2100. a. Compute the 2009 values of nominal GDP and P. Compute the inflation rate for 2008-2009. b. Suppose tech. progress causes Y to increase to 824 in 2009. Compute 2008-2009 inflation rate.
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a 1 Compute the 2009 values of nominal GDP and P Nominal GDP P Y 2009 Nominal GDP 5bushel 800 bushe...
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
