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The Bureau of Labor Statistics reported the following data for the year to June 2009: In the nonfarm sector, output fell 5.5 percent as labor productivity increased 1.9 percentlong dash-the largest increase since 2003 long dash-but in the manufacturing sector, output fell 9.8 percent as labor productivity increased by 4.9 percentlong dash-the largest increase since the first quarter of 2005.
Read the newsclip, then answer the following questions.In both sectors, output fell while labor productivity increased. The quantity of labor (aggregate labor hours) in the nonfarm sector______. The quantity of labor (aggregate labor hours) in the manufacturing sector______. And the percentage change in the quantity of labor was larger in the______ sector.
A. decreased; decreased; manufacturing
B. decreased; decreased; nonfarm
C. increased; increased; nonfarm
D. increased; increased; manufacturing
Assume the inflation rate in Canada to be 5 percent per year for the indefinite future - How much would a Canadian dollar, at the end of 10 years, be worth in terms of today's dollar?
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Discuss the differences between unemployment and underemployment and give examples of each. Include in your contribution the differences between fiscal and monetary policy and how each would be used to reduce high levels of unemployment.
assume that joe derives utility based on the following utility function uxy x10.6 x20.610.6if joes income is 5040 a
When 50 employees are used, the average product of labor is 50 and the marginal product of 50th worker is 75.
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If surgeons really have the ability to increase the demand for operations, which kinds of operations will be most affected? Can you think of a way to determine which operations are unnecessary?
The question asked that assume that the aggregate demand curve.
1. briefly outline the current state of u.s. policy toward sugar imports and perform an economic cost benefit analysis
1. Explain how GDP deflator and CPI measures of inflation are calculated and discuss the difference between them. 2. The government lowers taxes by $30.The marginal propensity to consume is 0.60. Using the national income identity Y = C(Y-T) + I(r)..
In a simple economy, suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Calculate gross domestic product from the following set of numbers. Show that the expenditure approach and the..
Critically discuss the strengths and weaknesses of using per capita national income (even once adjusted for purchasing power parity) as a measure of welfare. Discuss at least two alternative measures of national welfare that have been put forward? ..
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