Emil's Kitchen shop installed 325 kitchen cabinets in the

year 2020 and 350 in the year 2021. The price of one kitchen cabinet was $2000

in 2020 and $2200 in 2021. If the year 2020 is the base year, what was Emil's

contribution to real GDP in the year 2021?

In a two-sector economy the aggregate household saving function is given by S=-80+0.5Y and planned investment is 240. If autonomous saving by households increases by 40, what is the effect on household saving in equilibrium?

The substitution bias in calculating CPI can be explained by the fact that CPI:

Consider the following graph that depicts an economy modelled using a short-run Keynesian model where Y is real GDP. 

The economy is currently at point Y3 in the above graph. From this information and the graph you conclude that: 

An economy produces only 1000 000 computers valued at $4,000 each. Of these, 200 000 are sold to consumers, 300 000 are sold to businesses, 300 000 are sold to the government, and 100 000 are sold abroad. No computers are imported. The unsold computers at the end of the year are held in inventory by the computer manufacturers. What is the value of GDP?

Payments by the government to the public for which the government receives no current goods or services in return are called:

Which of the following needs to be applicable to ensure a contract is valid? 

Faradia is a closed economy who’s national saving (NS) and investment (I) are given by the following equations:

where r is the real interest rate.

Suppose the government of Faradia increases the budget surplus by 5. Which of the following effects will occur? 

A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is: