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Assume the supply curve of truck drivers slopes upward and to the right and the demand curve for truck drivers slopes downward and to the right. A decrease in the price of diesel fuel for trucks will (increase/not change/decrease) the equilibrium wage of truck drivers and (increase/not change/decrease) the equilibrium number of drivers employed. A. Decrease; increase. B. Increase; decrease. C. Increase; increase. D. Not change; decrease. E. Decrease; decrease.
The manager of Big Oil Company in Mandeville tells investors that at the end of 2006 they had gasoline in inventory worth $446. In 2007, Big Oil produced gasoline worth $353 and sold gasoline worth $217. How much did Big Oil add to Mandeville's GDP i..
Assume the marginal propensity to consume for U.S. households equals .9, and the marginal propensity to import for the united states equals .1. Suppose an increase in investment of $10 million occurs at each level of income. What does the value of th..
Pink lady apple demand and supply. Consider all six factors of demand and supply - identify which factors this information might impact. Assume in a perfect competitive market structure, Analyze what would happen in the market place given the finding..
1. Identify the problems that were experienced. 2. Discuss what preventative measures are now suggested to avoid similar issues in the future.
Illustrate what happens to inflation is indeterminate; it could be either higher or lower than in the standard model.
Consider a 30 year $10,000 (risk-free) bond with annual coupon rate of 4.25%. What is the annual coupon payment? If the yield to maturity on the bond is 4%, what must be the market price for the bond? Is the bond selling at a discount of (below) or ..
Consider a social securities program where workers are required to pay certain percentage of their income during working years and get some of them back during their retirement years. Also consider the Earned Income Tax Credit program. Compare these ..
Consider the classical model of National Income. What determines the total output of the economy? Why is GDP such an important metric/variable in macroeconomics? What determines the distribution of income in this model?
Explain how did the invention of crack cocaine transform the urban street gang. As per the data cited in this chapter, civil rights laws and a shift in the attitudes in the United States regarding race helped to improve the status of black society..
Discuss how advertising affects consumer demand. Discuss how advertising affects consumer demand. Explain why fiscal policy might be needed. Explain how fiscal stimulus or restraint is achieved
Find the optimal crude oil allocation for the following example if the profit associated with square foot of fiber is cut to $0.375,
If you were considering purchasing a season ticket to the symphony orchestra, which level of Maslow's Hierarchy of Needs are you trying to fulfill?
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