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Consider the economy whose data appear in the table below. Working-age population 100,000 Labor force 80,000 Unemployed 12,000 Instructions: Round your answers to one decimal place. a. The unemployment rate is %. b. The labor-force participation rate is %.
Assume that an economy is characterized by the following equations: C = 100 + (2/3)(Y − T ) T = 600 G = 500. Write the numerical IS curve for the economy, expressing Y as a numerical function of G,T, and r.
Analyze how a bartender would know which the price of an exotic drink was too low or too high. Provide adequate conceptual justifications.
How is it that higher tax rate can increase tax revenue in some cases, but a higher tax rate can decrease tax revenue in other cases? Relate this to the price elasticity of demand. (Excise Taxes)
You are to find a media article on tax legislation (passed or pending) and evaluate that legislations's effect on (1)the economy and (2) taxpayers standard of living and (3) taxpayers feeling about this legislation, and (4) the effect of the legislat..
Create two separate graphs that show current changes in equilibrium interest rates using the MD and MS curves. Describe the following: The Fed's actions to fight recession, The Fed's actions to lower inflation
As wages increase for Apple Workers, what happens to the price and quantity of iphones? As the price of drone phones decrease, what happens to the price and quantity of iphones? If the government taxes cell phones, what happens to the price and quant..
The political stability of countries has an impact on the foreign exchange market. When a country's import spending exceeds the value of its exports, the country is experiencing a:
Calculate the magnitude of deadweight loss from the price ceiling. Find a price floor that will result in the same magnitude of deadweight loss.
Calculate the sum of real assets and financial assets and total assets of the household.
Assume the total population is 180 million and there are 1 million discouraged workers, 9 million unemployed workers, 20 million part-time workers and 121 million workers employed full time. The unemployment rate is: 5 percent 6 percent 6.4 percent 7..
Elucidate how asymmetric information about a hidden action or a hidden action or a hidden characteristic can lead to moral hazard or adverse selection.
The GDP deflator is a good cost of living index. GDP is more volatile in the short-run than the long-run. All government spending is in GDP. If GDP is adjusted for purchasing power, the US usually improves its relative position.
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