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Explain why relatively flat as opposite relatively steep labor demand curves are more consistent with the empirical observation that there are relatively minor changes in the real wage rate over the course of the business cycle.
If an economy experiences an increase in its capital, everything else constant, then its production possibilities frontier (PPF) will a. Expand outward proportionally b. Expand outward largely in the direction the labor intensive good. c. Expand outw..
Public health information can be broadcast at a cost of $100. Public health information is a pure public good, in that many people can use the information simultaneously and preventing people from using the information is very difficult. What are the..
Two firms are competing for output. The leader firm knows the market demand to be P=1200-Q with the follower firm demand Q2=400-0.5Q1. Both marginal costs is $200. How much will the leader firm produce?
Are unions good or bad for economy. How do unions at GM and Ford affect employment levels and wages How do unions affect or industries in terms of employment and wage levels.
Explain how will this trade affect incomes of capital owners and workers in wool industry in Australia. Apply your knowledge of an appropriate framework to illustrate this.
Hart's Floral Shop sells bouquets for special occasions. Annual demand is 500? bouquets, the? company's cost to place an order with its vendor is? $25, and the cost to hold a bouquet in inventory for a year is? $15. If Hart orders from its vendor in ..
Critically evaluate measures used by governments and central banks to manage the economies of their countries.
In a two-period consumption model, a rise in the income of the second period would cause consumption in the first period to:
When units at MNO International are isolated from one another by strong departmental or divisional lines, it refers to
If a single bank faces a required reserve ratio of 20%, has total reserves of $500,000, and checkable deposit liabilities of $400,000, what is the MAXIMUM amount of money this bank could create (add to the money supply)?
In many countries bribery is actually an accepted, understood, and expected way of doing business. To this end, you own a company and you’re in, of course, a competitive market. What is the relationship between corruption in a country (i.e., bribe-ta..
explain the concept of diminishing marginal utility. since all goods are scarce, does diminishing marginal utility contradict the statement that individuals always want more of all foods?
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