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In the United States, the average hourly earnings of production workers in 2007 were $17.45 per hour. The national minimum wage was $5.85 per hour. Assume that the minimum wage represents what a worker would receive he or she has no human capital from education. Using these data, calculate the share of wages that represents payment to human capital and the share that represents payments to raw labor.
Presume a country can produce a maximum of 5,000 jumbo airliners or 1,000 aircraft carriers. What is the opportunity cost of an aircraft carrier? What is the implied price of the carrier in trade?
bulls eye department store specializes in the sales of discounted clothing shoes household items etc. similar to the
explain the difference between absolute advantage and comparative advantage. which is more important in determining
suppose alternatively that the government chooses to make military service voluntary. As in in part (a), the government needs a units of the representative consumer's time to run the military, but must now purchase this time at the going market re..
If the Online Tutoring decides to sell its tutoring services individually, what should it charge for math tutoring? What should it charge for science tutoring?
A manager hires labor and rents capital equipment in a competitive market. The current wage is $6.00 per hour and capital is rented at $12.00 per hour.
. In a sample of 300 houses, the sample average price was found to be $196,340. Assume the variance of house prices is 120,000,000. Let random variable X denote house price, and ? denote its unknown population mean, E(X) = ?. For each of the follo..
1. if a firm makes a loss in the short run should it shut down? if no discuss. if yes discuss.offer examples2. do think
Sonya used to sell real estate and earn $25,000 a year, however now she sells greeting cards. Normal profit for the retailers of greeting cards is $14,000. Sonya utilized 4,000 of her savings to start her business.
Find the equilibrium price, quantity produced, and quality level.
Market supply of labor The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours per week (QT) supplied to the market.Hourly Wage Hours per week
Fall proportionately more than the change in GDP, Fall proportionately less than the change in GDP, Rise proportionately more than the change in GDP
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