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If the quantity of steel workers demanded falls from 30,000 to 20,000 when the equilibrium wage increases from $9.00 per hour to $11.00 per hour, then the own-wage elasticity of demand for these workers is/
Venezuela had considerable capital outflows after election of Hugo Chavez. If Venezuela had fixed exchange rates, determine what effect would these flows have had on Venezuela's overall balance and value of the Bolivar
Suppose the government introduces a subsidy on firms’ sales (e.g. for every $1 of output sold, firms receive an additional 5 cents from the government). Keeping everything else constant, what do you expect to happen according to the frictionless labo..
Now consider the United States' current economic situation. Share your overall opinion of the subject and if you believe the U.S. economy has benefited or suffered (or both). Do you agree or disagree with your classmates' arguments? If you agree, exp..
As a musician, Mary plans to use JC Music Co.’s service for recording drum sound in her songs. She can use either drum machines or drummers, and they can substitute three drummers with one drum machine. The cost of hiring a drummer is $8 per hour and..
Consider we wanted to know how many trips versus dinners out you could purchase. If you were told that X = number of trips and Y = the number of dinners out and you were given the following budget information; M=4000, Px=800, and Py=100, What is the ..
If firm A produces 100 record albums and 100 video cassettes, how might firm A be made better off by shifting its output mix. Explain your reasonings clearly.
describe how current economic conditions affect your organization or one with which you are familiar. Identify most important economic indicator affecting your organization and elucidate why.
there was a month were employment and the unemployment rate rose. Suppose the computations were correct, explain how is it possible for both to have increased.
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
Assume an economy without government and without trade. Suppose the Consumption function is given by, whereas I=50. (Remember to show your work)* What is the equilibrium level of income in this case? What is the level of saving in equilibrium?
For this SLP take a look at how your organization manages its inventory and then answer the following questions.
Draw a graph with “hours of typing” on the horizontal axis and “hours of filing” on the vertical. Do your indifference curves slope upward or downward? Why? Suppose you currently type for 3 hours a day and file for 5, but you’d be just as happy typin..
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