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1. Indicate if the person would be classified as employed, unemployed, or not in the labour force and explaining the reasons: (i) a 65-year-old man who left his job and is now working as a volunteer for 10 hours a week; (ii) a university graduate who has not been able to find a position using her skills and is working as a wait-person for 30 hours a week; and (iii) a manufacturing worker who is out of a job and has given up searching for a job.
2. Use production functions from the economic growth model to explain why the United States of America grew at a much faster rate than the Soviet Union in the latter half of the 20th century.
Illustrate what is the value of gross private domestic investment. Illustrate what is the value of net investment.
Assume there is a 50% chance of the savings account losing half your money. Elucidate how much does the person save now?
Suppose you loan $5,000 to a friend to help him start a new restaurant business. Your friend signs a promissory note at a simple fixed interest rate of 5% per year. This note requires repayment in one lump sum five years from the date of the loan. Ex..
If oligopolists compete hard against each other.
How do the “rules of the game” help determine who will be poor and who will not? (Hint: How did the Civil Rights Act of 1964, which forbade discrimination on the basis of race, likely affect the incomes of African Americans compared to the incomes of..
Briefly describe the changes in predominant health problems among Americans since good record keeping began in the 1800s.
Two competing companies have submitted bids to develop a new video display technology. The yearly development cost of Alpha expressed in actual dollars will be $150,000 the first year and increase by 4% per year over the five year contract. Beta has ..
q. suppose that the mpc 0.8 and that 14 trillion of real gdp is currently being demanded. the government wants to
Which of the following is not an accurate description of what can cause inflation?
Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue. Taxes cause deadweight losses because they prevent buyers..
Specifically, in the RIMS II model espoused by the BEA, capital spending in a region induces job creation therein, based off of specific multipliers. Where do these multipliers come from, and what do they mean?
Leo supervises operations for a small manufacturing company. The company wants to expand, so upon Leo's recommendation, it purchased a new robotic assembly system for $200,000. Leo argued that he had made a good decision because it saved the company ..
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