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The State of Michigan has a population of 9,883,000. In November, 2015, there were4,763,700 people who are in the labor force, 243,721 unemployed.
(a) What is the labor force participation rate in Michigan in November, 2015?
(b) What is the unemployment rate?
(c) What is the employment-to-population ratio?
(d) Show by contradiction that indifference curves do not cross.
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Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908 and how does the taxation change if the income was $220,874?
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