# Econ 214 Problem set 1 1 answer below »

Econ 214 Problem Set 1

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Econ 214 Problem Set 1 SOLUTION :   1. CPI of 2010 = 218.1 Equivalent treasure for 2010  = First treasure * CPI of 2010 / CPI of first year.   Movie,  Box avocation avail (m\$),  Year,  CPI  :  2010 equiv. treasure.   Star Wars 461 1977 60.5 : 461*218.1/60.5 = 1661.89 pet \$ .   ET        399.9  1982 96.5 : 399.9*218.1/96.5 = 903.82 pet \$ . Extra Terrestrial          Titanic  600.8  1997  160.5 : 600.8*218.1/160.5 = 816.41 pet \$ .   Avatar   760.50  2009  214.5  : 760.50*218.1/214.5 = 773.26 pet \$ .   Shrek2 437.2 2004 188.9 : 437.2*218.1/188.9 = 504.78 pet \$ .     2.  a. inactive. b. inactive.  c. inactive. d. not in the strive vehemence. e. filled.  f. inactive.   3. Labor vehemence community reprimand = Strive vehemence/ Working age population, = 7300/15000 = 0.4867 = 48.67% (ANSWER).   Unavocation reprimand = Unemployed/Labor vehemence, = (Labor vehemence - filled)/Labor vehemence, = (7300-5000)/7300 , = 0.3151 = 31.51% (ANSWER).   The avocation -population appurtenancy = Employed/working age population, = 5000/15000 , = 0.3333 = 33.33% (ANSWER).   4. a. GDP part = 5400 (the makeweight summit of AD and SRAS at P= 105) b.  Yes it is long-run makeweight smooth GDP consequently the LRAS deflexion is perpendicular and passes through the intersection summit of AD and SRAS.curves. c.  The developed unavocation reprimand succeed be similar to probable reprimand past the makeweight is at long-run as well-behaved.  d.  The general GDP succeed stay in the coming so as it is long-run makeweight smooth.

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