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Not long ago an employee came into my office asking for a wage increase. I responded by asking what increase in productivity the employee brought to the University in order to merit such an increase. The silence was deafening. The things that determine prices for labor are the precise same things that determine prices for labor - supply and demand. The greater the demands for a particular skill, generally speaking the more wages are supplied. Once supply and demand issues have been determined, the next logical differentiation in wages is productivity.Provide a few real world examples of how supply and demand and productivity work in the marketplace. Discuss the options for employees to increase the demand for his or her particular skills, as well as ways to enhance our personal productivity.
Determine equilibrium in wheat market with help of graphs. If re is an increase in price of rice, illustrate what will be its impact on market equilibrium.
What is the new equilibrium price and output in the short run for both the industry and each firm.
Illustrate what happen if her actual disposable income is $16,000, her level of consumption or saving will be.
If the Bank of Canada sells 100 million worth of bonds to the public in an open market operation. What level of output will the firm choose? Is the firm making a profit.
If required reserve ratio is raised and people decide to hold more cash instead of depositing, how is the money supply affected?
What happens to price of a bond that pays a fixed percent of face value every year when interest rates in economy increase.
How many acres should John choose to mow in order to maximize profit. Prevailing market price of lawn mowing is $20 per acre.
Suppose the city eliminates its restrictions on books stores, allowing additional stores to enter the marketplace.
illustrate what feature of the value function explains the phenomenon, and how.
Explain how can each of the 10 principles be applied in an example or experience with which you are familiar. How do you intend to use your newfound knowledge in future economic decisions.
Illustrate what occurred to employment during the rest of 2008. Illustrate what are some of the alternatives to a tax cut that might have been utilized.
Sketch the payoff matrix for this game. Identify any possible Nash equilibria in pure strategies for this game."
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