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Consider a student who has finished her undergraduate degree and is considering pursuing an MBA as a full-time student. The cost of the 2-year MBA program she is considering is $45,000 for tuition. If she doesn't become a full-time MBA student, her next best alternative is to accept a job she's just been offered, which pays $30,000 per year. Moreover, she can expect a 5% salary increase each year with this employer. Apply the concept of opportunity cost to calculate the economic cost (as opposed to the accounting cost, which would not factor in opportunity cost) of pursuing the MBA over the course of the next two years.
Evaluate the price and the output information in the following table. Calculate the related total revenue and marginal revenue.
Elucidate how an attempt by the government to lower inflation could cause unemployment.
If the minimum salaries is set above the equilibrium salary, does this make a shortage or a surplus of labor, or does it create a lower wage rate
Illustrate what are the gains and losses for consumers in these types of international production and trading patterns.
Illustrate what are some advantages of a unionized organization. What are some disadvantages.
The table above demonstrate the prices and quantities of 2-goods produced in a country in 2006 and 2007. These are the only goods produced in the country.
Utlizing the aggregate demand and aggregate supply model, draw an economy in a boom.
Assume that you're a member of the Board of Governors of Federal Reserve System. The economy is experiencing a sharp decline into a recessionary phase of the business cycle.
Leisure-Time boats is a manufacturer of mid-to-high end boats with 12 sales territories throughout the U.S. Sales are generated by salespeople in each territory who develop relationships with boating distributors and related retailers.
If graphed, would the curve for this equation slope upward or slope downward and are the variables C and Y inversely related or directly related?
Use the following information to answer the questions. Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow?
Please evaluate the effect of the following scenario on the AD curve, AS curve, and accordingly the effect on equilibrium price level and equilibrium GDP/output.
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