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Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor.
The rate of our imports and exports has nearly quadrupled during past decade alone. Firms today are hiring, investing, buying, selling, increasing capital overseas among other things
What is the new profit maximizing output level and how many workers are hired at this level
a. What are your views regarding economic forecasting? In particular, share any experiences you may have had with business forecasts for company budgets. b. Discuss some of the important criticisms of the forecasting.
The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year.
Which of the Supply Factors do YOU believe will be most important for the future growth of the U.S. economy? WHY? Briefly explain what we mean by labor productivity. What is its most important determinant?
In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
Determine the total tax collected by the government on widgets. How much of this tax is paid by consumers? by producers? Show all calculations and explain your work.
If college education generates a positive externality, show graphically the social loss associated with the private market outcome of college education. Are there any interventions that would be useful to address the externality
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the long run?
suppose a massive unmanned spaceship were to crash in the US instantly increasing the capital stock substantially. Describe using the Solow Model, what would happen to the capital stock, and to output over time. Be sure to include graphs of bothe ..
Before the Civil War, the South graded with the North and with England. It sold cotton and bought manufactured goods and food. During the war, one of Lincoln's first actions was to blockade the ports, which prevented this trade.
Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses. Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people th..
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