PLEASE IN NEED FOR QUICK HELP
An industry's inverse demand was PD = 20 - 6.10 and its inverse supply was P5 = 4 + I110. a. Calculate the consumer surplus, producer surplus, government revenue and deadweight loss for taxes of 54, SB, 512 and $16 per unit sold. o. Graph govern merrt revenue and dead weight loss as functions of these tax rates. c. What tax maximizes government revenue? Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo c. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g. A restaurant spends $1,000 dollars to buy chickens and chillies to use in producing its famous hot chicken samosas. h. Cash received from selling a corporate bond.1. In 1933 net private domestic investment was minus $208 million. This meant that; A) gross private domestic investment exceeded depreciation by $208 million. the economy was expanding in that year. C) the production of 1933's GDP used up more capital goods than were produced in that year. D) the economy produced no capital goods at all in 1933. 2. The natural rate of unemployment: A) is fixed over time. B) is found by adding the cyclical and structural unemployment rates, C) D) may change from one decade to another. cannot be changed through public policy. 3. Suppose Smith pays $100 to Jones. A) We can say with certainty that the GDP has increased by $100. B) We can say with certainty that the GDP has increased, but we cannot determine the amount. C) We can say with certainty that the nominal GDP has increased, but we can't say whether real GDP has increased or decreased. D) We need more information to determine whether GDP has changed. 4. "Depression means idleness. And idleness means loss of skills, loss of self-respect, plummeting morale, family disintegration, and sociopolitical unrest." This quote describes some of the: A) consequences of the hyperinflation that accompanies a recession. B) reasons for the natural rate of unemployment. C) noneconomic costs of unemployment. D) characteristics of structural unemployment