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Suppose that there is a fixed number of workers.
Each worker is at a certain instance either employed or unemployed.
The average duration of a period of unemployment is Du=10 months, and the average duration of a period of employment is De = 40 months.
Use the model of labor market flows between these two states to answer the following questions.
1) What is (in rate per month) the rate of job finding (f) ?
2) What is the rate of job separation (s) ?
3) What is the equilibrium unemployment rate (u) ?
You borrow $15,000 from your credit union to purchase a used car. The interest rate on your loan is 0.25% per month∗ and you will make a total of 36 monthly payments. What is your monthly payment?
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demonstrate the maximum amount of corn which can be grown using the existing production technology. For the next several troubles, ignore the vertical axis.
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Read "Does a stock market crash affect the economy?" (Layton et al 2012, pp. 364–5) Immediately following the attack on the US on 11 Sept 2001, the stock markets plunged and many observers expected a recession in the US (and possibly elsewhere). Q) U..
In a two firm market, let the total cost of producing a product be 2Qi, the inverse market demand be given by the function P = 20 - Q and the market quantity be equal to Q = Q1+Q2. Assume firms compete in quantities, what is the quantity for firm 1 t..
Illustrate what is the equilibrium price and equilibrium quantity. What would you expect to happen to price.
Consider a market where the inverse demand is P = 1200 − Q. Firm 1 and firm 2 compete by setting their supply quantities. Both firms have a unit-cost equal to 300. Assume we can analyze the interaction between firm 1 and 2 as a simultaneous-move game..
When the price of some important commodity or service rises rapidly, governments face pressure to do something about it. A variety of options are commonly considered. Governments can, and often do, subsidize the supply of goods seen as vital, commonl..
What are the two properties of public goods? List an example of both public and private goods, andindicate whether each of them possess these two qualities. Explain why or why not.
GDP depends partly upon Investment and consumption spending. If the economy is in a persistent recession what can the Congress and Administration do to improve the GDP? What can the Federal Reserve do to improve the economy is Consumption and Investm..
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