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Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers? What are the implications in our economy of more output being produced by fewer workers?
What do you think about current and projected budget deficit [over 500 Billion this year and coming years] and do you support Bush's economic policy to cut tax and run the Federal government through lending?
If the price of processor chips used in manufacturing personal computers decrease, what will happen in the market for personal computers How will the equilibrium price and equilibrium quantity of personal computers change
Three students want to order pizza for dinner and they have decided to play the following contribution game in order to collect the money. Each student takes turns in order to place money inside a jar. If at least two students contribute the pizza..
Compute the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase.
In the following list a number of well-known companies and the products that they sell. Which of the four types of markets (perfect competition, monopoly, monopolistic competition, and oligopoly)
Elucidate what output level does average variable cost reach its minimum value. What is the value (in dollars) of the average variable cost at its minimum point.
Assume you are asked to do market analysis in an area in which a natural disaster has recently occurred. For example, Nashville after Spring floods or New Orleans after Hurricane Katrina.
Jennifer divides her income between coffee and croissants (both of which are normal goods). The government has decided to impose a tariff on coffee beans in order to promote the coffee industry in Canada. This tariff results in an increase in the ..
Then list one good reason to allow tire imports and one good reason to restrict tire imports. Give a short explanation for each reason.
Two companies produce the same product. The firm's each determine their own output and the combined output of the two is sold at the market price.
The relation among the number of technicians recruited per hour and the number of radiographs produced per hour is shown in the following table.
A monopolist faces market demand given by P = 200 – Q. For this market, MR = 200 – 2Q and MC = 3Q. What quantity of output will the monopolist produce in order to maximize profits?
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