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Describe how the following situation illustrates one or more of the 10 principles of economics?
The first week in April, based on March data, economists made a prediction that there would be a robust growth in the United States Economy. During the first quarter, new jobs were created, wages increased by 2.4%, auto sales were up and the National Institute of Supply Management manufacturing index had turned positive.
Construction firms, likely aided by a warmer winter contributed to many of these newly created jobs. Retailers and healthcare providers were also contributors. There was an increase in the workforce, as more Americans were actively seeking work. Some states have approved measures to increase their minimum wages.
Jobs were cut in manufacturing. The mining industry, including the oil and gas drilling sectors, has cut jobs. This was due to a weak demand for coal and low oil prices.
Draw a budget constraint and an indifference curve for an individual who works in period one and is retired (earns no income) in period two. He consumes some of his income in period 1 and saves the rest of his income for period 2.
The results are estimated to positively impact net cash flow starting 6 years from now and for the foreseeable future at an average level of $6 million per year. As an initial screening for economic viability, determine both the no-return and i ..
in the middle of the decade , the party was over, and coffee wholesale prices started increasing because of some shortages caused by weather and the rising overall market prices again. Where is the new equilibrium price
Does either player have a dominant strategy? Does either have a dominated strategy? Explain.
Suppose two countries, A and B, with the same production function Y = K? L 1?? . The value of ? is 0.30, the growth rate of population is 2% and the depreciation rate is 5%. Compare both economies to the Golden Rule.
Which of the following statements correctly describes free-market equilibrium? A survey that calls people on land-line phones to study the purchasing habits of US adults would likely incur a problem of ________ in the data
a number of legal firms now offer services on the internet.1. in what respects does the market for legal services such
Describe how high entry barriers into a market will influence long-run profitability of the firms
Find the equation that shows the relationship between motor vehicles and parts expenditure (PCE) and DPI - What are the R squares for the equations? Which one is better
Each day millions of Americans purchase millions of goods and services. These goods and services are generally readily available, as long as you have the necessary money to purchase them. How is it possible for all of these goods and services to be r..
Presume a price ceiling is set below the current market price. If the goal of the price ceiling is to reduce total expenditures, it will be successful
Discuss four different kinds of sectoral classi?cations which are relevant for our understanding of structural change. What are the contributions of agriculture to industrial development in earlier stages of economic development?
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