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1. How can restricting entry into a union help boost members’ wages without the union specifically setting wages?
2. Distinguish between a closed shop and a union shop. Are either or both shops legal? Explain
3. What is a monopsony and how does a monopsonistic firm determine the wage rate to pay its employees?
A local golf course just bought a lawn mowing machine. It comes with 2 yr free maintenance. The manager wants to provide enough money in an 8.00% bank account now (EOY -0) to have a fund out of which he will pay for needed maintenance. At the end of ..
What is the significance of Sarbanes-Oxley and the Dodd-Franck Act to business operations in the United States?
You've just won the state lottery and will receive 20 annual payments of $70,000, with the first payment arriving 1 year from today. It is easy for you to borrow or lend on the capital market at an interest rate of 8% per year. If someone offered to ..
Will there be significant progress on the poverty front, because of an increase in GDP.
Illustrate what is definition of price elasticity of demand. Explain relationship between price elasticity and total revenue.
Real GDP will increase
q1. if you are the chief economist of a country experiencing high unemployment as well as flat gdp what macroeconomic
What is endogenous growth? How do endogenous growth models differ from the neoclassical models of growth? How do the implications of an increase in saving with regard to both the level and the growth rate of output differ between the neoclassical gro..
Assume that a firm pays taxes on revenue and is allowed some deductions. Derive and explain the user cost of capital if the firm's nominal interest payments are tax deductible. Derive and explain the user cost of capital if the firm's real interest p..
Suppose that aggregate demand increases by $1 billion, what would happen to equilibrium RGDP? Explain. When the price level is falling, we experience deflation. This occurred in Japan not to long ago. What do you believe causes deflation? How might i..
A number macroeconomic variables decline during recessions. One of these variables is the GDP. Empirical studies indicate that the long-run trend in real GDP of the USA has an upward trend. How is this possible given business cycles and macroeconomic..
In reference to supply and demand as well as demand and supply elasticity. What did you learn? Why is it important? How do the Economics concepts we just covered impact the economy, you and your family, your friends and your employer?
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