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Imagine you are a consultant hired to give advice to a fast food restaurant which is faced with employees asking for a 25% increase in pay. In order to give good advice, you need more information. Create three to four (3-4) questions that you would ask this restaurant owner in order to give good advice and give your rationale for asking them.
Explain why would you expect inflation rate to increase if the actual unemployment rate refused to a level lower than the "full employment" unemployment rate.
Compute the employment rate (i.e., number employed: population) in each year? How can employment rate may go up or down in the unemployment rate stays the same? How can employment rate go up if unemployment rate also goes up?
explain alternatives to traditional monetarist devices be identified in modern economies.
The largo publishing house uses 400 printers and 200 printing presses to produce books. A printer's wage rate is $20, and the price of the printing press is $5,000.
A woman managing a photocopying establishment for $25,000 each year make a decision to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows:
Suppose that a chair manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observed the following levels of production corresponding to different numbers of workers:
Illustrate what is the short-run equilibrium real GDP and price level. Does Japan have an inflationary gap or a recessionary gap and what is its magnitude.
Elucidate what determines the rate of inflation when the economy is at long-run equilibrium.
Describe the effects of a price ceiling also a price floor on a market. As for what happens with pricing is different than equilibrium, a price Floor is Minimum wage.
Illustrate what are some advantages of a unionized organization. What are some disadvantages.
Illustrate what are the gains and losses for consumers in these types of international production and trading patterns.
Explain why government regulation is needed, citing the major reasons for government Involvement in a market economy and justify the rationale for the intervention of government in the market process in the U.S.
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