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He wage elasticity of labor supply for men aged 18-25 is measured to be 0.3. Within this group, the average weekly wage of the high-school graduates is 2/3 the amount of college graduates. Assume that wage elasticity and all other individual characteristics (like intelligence, taste for work, networking skills, etc.) are the same across the education groups. If male college graduates offer 45 hours of work per week, what would be the quantity supplied of labor for male high school graduates? Please use the midpoint formula when calculating your answer.
For an individual with $8,000 in annual drug expenses, how much would he/she pay out of pocket in Medicare Part D under the 2006 rules?
Now assume a 7% real discount rate. What would the present discounted value of the project be? Should the project still be approved under this discount rate?
Suppose a country's government is concerned about growing inequality of incomes and wants to undertake a program that will increase the total earnings of the unskilled. Extending employer payroll taxes to all earnings over $117,000 per year and incre..
If one has 3 choices to move business into another country and the following information exists, should you do so in if so which country would you choose?
If the EU and the United States continue to trade what do you think will characterize goods which the EU exports to the United States and the goods that the United States exports to the EU.
Elucidate why an upward sloping aggregate supply curve is thought to weaken the impact of a rightward shift of the aggregate demand curve generated by an increase in government spending in the short run.
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equation..
q1. assume that survey measures of consumer confidence indicate a wave of pessimism is sweeping the country. if
In the following example each person is an island. We have James and Kate who engage in international trade with each other. James is lactose intolerant and only produces cheese. Kate is caffeine intolerant and only produces coffee. Who has a negativ..
The relationship between the government's budget deficit and its spending is:
Show, using an AS-AD graph, how government can use accommodating monetary or fiscal policy to return output and unemployment to their long-run values.
Illustrate what will be the most likely new equilibrium price level and output.
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