ECON101 Lecture 6: Chapter 8
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Find the utility-maximizationcombination of movies and books with the following data.
Price of movie = $4; Price of Book=$2; Income=$20
Quantity | Marginal Utility | |
Movies | Books | |
1 | 54 | 24 |
2 | 48 | 18 |
3 | 42 | 14 |
4 | 36 | 10 |
5 | 33 | 6 |
6 | 27 | 4 |
7 | 18 | 2 |
Find the utility-maximization combination of movies and books with the following data.
Price of movie = $3; Price of Book=$2; Income=$22
Quantity |
Marginal Utility |
|
Movies |
Books |
|
1 |
54 |
20 |
2 |
48 |
18 |
3 |
42 |
14 |
4 |
36 |
10 |
5 |
33 |
6 |
6 |
27 |
4 |
7 |
18 |
2 |
How can you calculate NAIRU for Q3 and Q4. I know Q3 is between July-September while Q4 is between October-December.
In this table, I found
Year |
Real GDP |
Unemployment |
CPI |
Real GDPpotential |
NAIRU |
2015Ā Ā |
$16,414.0 billion |
5.167% |
238.305 |
$16,746 billion |
Ā |
2015Ā |
$16,470.6 billion |
5.% |
237.233 |
$16,809 billion |
Ā |
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Year |
Unemployment |
CPI |
NAIRU |
July |
5.3% |
238.654 |
Ā |
August |
5.1% |
238.316 |
Ā |
September |
5.1% |
237.945 |
Ā |
October |
5% |
237.838 |
Ā |
November |
5% |
237.336 |
Ā |
December |
5% |
236.525 |
Ā |
I found the data online and got the Real GDP and GDP potential quarterly, but for Unemployment and CPI, I used the averages of the number from the table (months). How can I solve for NAIRU?Ā