The ministry of misallocation has decreed that the production of widgets must be 6000 each month and the production of gizmos must be 6000 each month. calculate the deadweight loss in each market caused by these restrictions. note the scale of the quantity axis is in thousands.

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

Atrough in the business cycle occurs when

If springfield is operating at full employment who is working a. everyone b. about 96% of the workforce c. the entire work force d. the robots