A. Compute nominal GDP, real GDP and the GDP deflator for each year, using 2012 as the base year.
b. Compute the percentage change in nominal GDP, real
GDP and the GDP deflator in 2013 and 2014 from the preceding year. For each year, identify the variable that
does not change. Explain in words why your answer
makes sense.
c. Did economic well-being rise more in 2013 or 2014?
Explain

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g

Haley photocopying purchases a paper from an out-of-state vendor. average weekly demand for paper is 150 cartons per week for which haley pays $15 per carton. in bound shipments from the vendor average 1000 cartoons with an average lead time of 3 weeks. haley operates 52 weeks per year; it carries a 4-week supply of inventory as safety stock and no anticipation inventory. the vendor has recently announced that they will be building a faculty near haley photocopying that will reduce lead time to one week. further, they will be able to reduce shipments to 200 cartons. haley believes that they will be able to reduce safety stock to a 1-week supply. what impact will these changes make to haley’s average inventory level and its average aggregated inventory value?

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