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Explain (but don't demonstrate) how a union might cause an increase in employment in the unionized occupation. Also, explain (but don't demonstrate) how this might, in this case, affect wages in related non-unionized occupations.
For each of the following scenarios involving the U.S. government, determine the primary function of government that is being served. The government decides that it will cut taxes in an attempt to move the economy out of a severe recession.
You were told that a certain cash flow sequence started at $3000 in year 1 and increased by $2000 each year. How many years were required for the equivalent amount worth of sequence to be $12000 at an interest rate of 10% per year? You were told that..
An industry contains two ?rms, one whose cost function is C(q1) = 30q1 and another whose cost function is C(q2) = q2 2. The inverse demand function for the ?rms’ output is P = 120 − Q, where Q is the total output. What are the ?rms’ outputs in a Nash..
Determine the income elasticity of demand, and state whether good X is a normal or inferior good. Determine the own advertising elasticity of demand.
Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is a decline in wealth.
Compute the expected value, the expected return, the variance and the standard deviation of an asset that requires a $1000 investment, but will return $850 half of the time and $1,250 the other half of the time.
Illustrate what is the equilibrium price of tickets to the event. Calculate the price elasticity of demand at the equilibrium price.
Monetary policy and inflation. Assume that the monetary authority initially wants to create inflation of 1% each year, that is, have prices rise every year at this rate. Use the AS-AD graph for the monetary misperceptions model to show what this poli..
hat drug is nearly through clinical trials, and is expected to produce an acceptable return on the investments that have been and will still need to be made in it.
Determine the enrollment variance for the month.Determine the utilization variance for the month.Determine the efficiency variance for the month.
The higher a country's tax rates, the more likely that country will be:
The difference between income and consumption is
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