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Toward the end of the recent recession, the economy was characterized by a "jobless recovery" - output and hours worked were rising, but employment was not. Explain what may have been happening.
At the time, there were 180 million automobiles and 250 million people in the United States. Each vehicle was driven about 15,000 miles each year. What is the cost of saving each life?
Calculate the (1) unemployment rate, (2) labor force participation rate, (3) adult population and (4) the total population for the small town with the following statistics: employed = 1,000, labor force = 1,400, Not in the Labor Force = 1,000 and min..
A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop’s productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?
Discuss how policy makers can incorporate the Domestic Climate Policy Framework into a widely accepted environmental policy. Provide examples.
Suppose there is an options market in SO2 permits, where each permit entitles one ton of SO2 emissions. Suppose that running a scrubber costs $65 per year per ton of SO2 removed, has a capital cost of $30,000,000, and an expected life of five years. ..
Should you raise the price of your widgets? What will be the effect on total revenue? Include elasticity, consumer and producer surplus, utility maximization, consumer equilibrium.
Which of the following is TRUE of the European Union's cap-and-trade program?
With respect to three goods- ice cream, green tea, and digital cameras, what does it mean when your preference for, and satisfaction. What is the difference between a “shift in demand” (an increase or decrease in demand) and a “change in the quantity..
How much does consumption change this year in absolute dollars ($ ΔC) as a result of a $5,000 annual tax cut to your income, if the tax cut.
Suppose that the production function faced by a baseball footwear producer i given by Q=4K^0.5L^0.5, where MPk=2K^-0.5L^0.5 and MPl=2K^0.5L^-0.5. Do both labor and capital display diminishing marginal products? Does the production function display a ..
Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 appears to be driven in part by the Madoff Ponzi scheme. Indeed, af- ter the SEC’s investigations failed to detect the Madoff fraud (see Case 1.12), many sections of Ti..
Find the equilibrium price and quantity with QD' =80-10P and QS=10P. Find the equilibrium price and quantity with QD=60-10P and QS'=20+10P
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