###### In 1979 the median household in the U. earned \$15,620 and by 2015 this was \$76,800 (both of these values are nominal).
September 3, 2020
###### Managerial Economics 1. Comparing the four models of market structures, cite the limitations/drawbacks of each.
September 3, 2020
In which year do you think it most likely that the Fed was stimulating the economy?a. 1989

b. 1999

c.2009

d. 2019

7.Given the data in these tables, can you compute the value of the core CPI in 2019?

yes or no

The following two tables are used in all the following questions. Thus, part of the followingquestions involve determining exactly what you need for each question. Please assume that forGDP calculations, only two things are produced in this economy: houses (a good) and dogwalking (a service). Please ignore coffee for the GDP calculations. Also, assume that 2018 is thebase year for GDP calculations. The base year for the CPI is not given. Year Houses Produced Average House Dogs Walked Average Dog Walking(millions) Price (millions) Fee 2018 1.00 \$200,000 1,000 \$25.00 2019 1.01 \$208,000 1,010 \$25.10 Year Nominal price of a cup of CPI CPI Market Nominal interest rate oncoffee Basket a car loan 1989 \$1.70 180 \$28,800 5% 1999 \$1.85 200 \$32,000 3% 2009 \$1.95 220 \$35,200 2% 2018 \$1.98 245 \$39,200 5% 2019 \$2.00 250 \$40,000 6%