Suppose that in 1984 the total output in a single-good economy was 7,000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $15. Finally, assume that in 2005 the price per bucket of chicken was $20 and that 22,000 buckets were produced.

a. What is the GDP price index for 1984, using 2005 as the base year?

b. By what percentage did the price level, as measured by this index, rise between 1984 and 2005? ...percent.

c. What were the amounts of real GDP in 1984 and 2005?

In 1984, real GDP = $.

In 2005, real GDP = $

You operate a small advertising agency. you employ two secretaries, a graphic designer, three sales representatives, and an office coordinator. 1. what types of things would you consider when determining how to compensate each position? describe two (2) considerations. 2. what type of compensation plan would you use for each position?

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?

Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncertainty.