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1) A country with a civilian population of 900,00 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3000 are structurally unemployed. On the basis of this data, answer the following questions: (show your work for credit)
a. what is the size of the labor force?
b. What is the unemployment rate?
c. What is the natural rate of unemployment for this country?
d. Is this economy in recession or expansion? Explain.
Incidence and prevalence data have different applications in public health.
Adrian is about to borrow $2,814 from his uncle. He has an option to repay the loan at the end of year 5 with 9.62% simple interest per year or with 5.36% interest per year, compounded annually.
The demand for new motor homes in the US is highly cyclical and sensitive to diesel fuel values and interest rates. Given these characteristics, explain the effect of the following on quantity demanded
discuss the supply and demand as well as elasticity concepts of the panera bread company. incorporate these concepts
raise or lower tuition? suppose that in an attempt to raise more revenue nobody state university increases its tuition.
What does the analysis of the 'hold up' problem contribute to the explanation of the size and scope of firms?
Some states have had laws restricting the sale of most goods on Sunday.oppose such laws because they find Sunday afternoon a convenient time to shop.
An interesting example of strategic behavior comes from the 1997 article regarding Microsoft's investment in Apple (New Straits Times, 1997). The article is included in Required Readings list.
In the chapter we mention how prices can vary in a tourist trap. Which market, St. Louis or Chicago, was more likely to behave like a tourist trap? Explain.
What is the equilibrium price and quantity in the market and what is the initial consumer surplus in the market? the initial producer surplus?
Derive the pro?t frontier, and explain why total pro?ts fall as the ?rms redistribute pro?t between themselves by redistributing output.
Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if..
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