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Circuit city employees were not represented by a labor organization and did not have a collective bargaining contract specifying terms and conditions of employment. How might Circuit city's labor cost-cutting strategy have brrn affected if its retail employees were union members in a bargaining unit covered by an existing labor agreement?
We considered a sequential move game in which an entrant was considering entering an industry in completion with an incumbent firm, Consider now that the entrant, if fought, has the possibility of withdrawing from the industry (at a loss of 1 for the..
Suppose a central bank has increased its nation's nominal money supply considerably for several years in a row, but without any increase in inflation. Over the same time, suppose its economy has not grown. Given this information, explain why this mon..
How has the news media evolved from the nation’s founding to what it is today? Discuss the various functions the news media has in American society. How well do you feel the media carries out these functions?
The simple circular flow model (without leaks or injections) shows that an economy reaches equilibrium when:
Find the equivalent equal payment series (A) using an A/G factor such that the two cash flows are equivalent at 10% compounded annually. First cash flow: Start at -$50 at year zero and goes up every year in increments of $50 so at year five its at $2..
Welfare Economics: main economic goals of a political-economic system are to promote efficiency (static and dynamic), equity, and macroeconomic stability. Under what conditions will a free market meet these goals? Identify a violation of these condit..
How do we fight a recession using Monetary Policy (Make sure to include the 4 tools of monetary policy and how we should use them.) and Fiscal Policy (Make sure to include all appropriate graphs and equations):
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Consider our competitive market described by the supply and demand model. If there are no externalities, explain why economists describe the competitive equilibrium as efficient.
According to Aristotle, a virtue is more than worthwhile habit; it is also a ________. On Aristotle’s “doctrine of the mean,” one of the most important factors in determining the virtuous course of action is to relate the (17) _________________ to (1..
Illustrate what is the value of the money multiplier. What is the value of the nominal money supply. What are the nominal values of deposits, currency, and reserves.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 110 - 0.5P, and the marginal cost of production is $140. Determine the optimal number of units to put in..
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