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Increases in structural unemployment can result from a recession but are more commonly associated with other changes, such as the development of new products that replace old products.
A classic example of this is typewriters and computers.
a. How might technological change cause structural unemployment?
b. Would you expect a similar effect on unemployment when new types of cereal or styles of clothing are developed?
1. How does a current budget deficit affect future workers How could a policy by the current government to reduce the national debt hurt these future workers 2. Monetary and fiscal policies are said to have "lags." What are lags and why do they exi..
Societies are frequently concerned about whether police are vigilant in carrying out their responsibilities. Many societies have experimented with incentive compensation for police.
Consider an economy composed of identical individuals who live for two periods. These individuals have preferences over consumption in period 1 and 2 given by U = (c1)0.5 × (c2)0.5. They receive an income of 100 in period 1 (young) and 20 in perio..
Derive the profit maximizing price and the profits at this price. What is the demand elasticity at this price? What is the total demand when the monopolist charges a price P?
Graph Jay's budget constraint when her income is 50, and the price of housing and food is 2 and 10 respectively. What happens to her budget constraint when M increases?
How does the minimum wage law present a trade-off between economic efficiency and social equity?
Compute the price elasticity of demand using the point formula for Px = 20 and Py = 10. Determine whether demand is elastic, inelastic, or unit elastic with respect to its own price and whether Good Y is a substitute or a complement with respect t..
Evaluate this statement: " profit-maximizing firms lack an incentive to provide job safety, and consequently, the federal government must intervene legislatively to protect workers against unsafe working conditions that will surely result."
Say whether the statement is true, false, or uncertain, and support your answer using concepts discussed in class (only the explanation will be graded and not the T/F choice). If needed, you may do some additional research on these topics.
If a representative firm with total cost given by TC = 20 + 20q + 5q2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,400 - 40P and QS = -400 + 20P, the number of firms operating in the sh..
Name at least two legislations to prevent monopolization of businesses
According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation produces?
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