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BusinessWeek, in an article dealing with management, wrote, "When he took over the furniture factory three years ago ... [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks, he set up a task force of managers and workers to deal with the problem. And within a few months, they reduced the amount of scrap to $7,000 worth [per year]." Was this necessarily an economically efficient move?
If consumption spending this year (C1) and next year (C2) were perfect complements, would the permanent income hypothesis still hold, in the sense that the consumer would not increase spending by the full amount of a transitory income shock, but woul..
Using demand–supply diagrams in the labour market, show what it means that there is a minimum wage but it is not “binding”. Should we have unemployment if it is not binding?
Suppose that people expect inflation to equal 3 percent, but in fact, prices rise by 1 percent. Describe how this unexpectedly low inflation rate would help or hurt the following: homeowner with a fixed- rate mortgage. a union worker in the second ye..
In a paragraph or two, outline two tactics that businesses can use to improve the value they provide to customers. List and briefly describe four activities that a company might undertake in the formation of an online business initiative.
Explain the main differences between the three main nominal anchor choices: i) Exchange Rate Target; ii) Money supply target; and iii) Inflation target plus interest rate policy. Use equations to support your answer and do not forget to describe how ..
Write a program which can conversion of values from kilometers to meters?
In market economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the difference.
Draw a graph showing a set of isoquants that depict capital and labor to be perfect complements (not substitutable at all) in a production function that exhibits constant returns to scale. Be sure to label the input and output levels on the isoquants..
Which of following statements is true of a monopoly firm. Drug companies are engaging in price discrimination, but this might improve global social welfare if it gives more people access to drugs
What are two ways that economists have tried to quantify the value of non-market work so that it can be added to GDP to produce a more inclusive measure of economic activity?
q.government budget constrainta write the governments lsquolifetime budget constraint assuming its lifetime is just
Suppose that the market demand for medical care is summarized by the following function: P=400-2Q And the market supply is summarized by the following function: P=50+3Q. Calculate the equilibrium price, assuming no health insurance is available. Calc..
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