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ruslelena [56]
3 years ago
5

Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Hint: (Use Okun's law to

calculate GDP loss)
Business
1 answer:
stich3 [128]3 years ago
5 0

Answer:

Loss of gdp = 7.6%

Eliminate gdp loss = 121.6

Explanation:

According to Okun's law , 12% loss of gdp.

Natural rate of unemployment=5%

Cyclical unemployment = Actual unemployment - Rate of Unemployment

Cyclical unemployment = 8.8% - 5%

Cyclical unemployment =3.8%

Loss of gdp = 3.8%(2)

Loss of gdp = 7.6%

Loss of gdp = (7.6%(8,000)

Loss of gdp = 608

Spending multiplier = 1/(1 - mpc)

Spending multiplier = 1/(1 - 0.8)

Spending multiplier = 1/ 0.2

Spending multiplie = 5

So,

Eliminate gdp loss = 608/5

Eliminate gdp loss = 121.6

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Answer:

Revenue could be of amount $33,836,000

Explanation:

As the selling price is not given in the question, only the cost of the inventory is given, So,

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Then,

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If the selling price is equal to the cost of the inventory which is $33,836,000. So, the only revenue which is to be added is the amount of $33,836,000.

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Chocolates R' Us, Inc.

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A major drawback with lot-for-lot sizing is?
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