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How might payment of an efficiency wage (a) reduce shirking by employees and (b) reduce employee turnover? What is the implication of the efficiency wage theory for unemployment? In what way are piece rates, commissions, royalties, profit sharing, and stock options substitutes for efficiency wages?
Illustrtae what were the challenges that these policy makers perceived at the time in terms of both the Business Cycle and broader social policy.
Describe the reliability of the forecasts. Illustrate what do you tell him about these forecasts and their accuracy to help him make his decision.
Describe the relative impact that every variable has on the demand. What implications do these results have for the firm's marketing and pricing policies.
Describe the difference between the purchase of capital and the rental price of capital. If you know the value of marginal product from the flow of capital services, how would you determine the market price for the capital stock
Determine the inflation rate for the next 12 months, base their calculations solely on the current inflation rate and is it a closed or open economy? What budget des the government run?
The FED has three ways to expand or contract money and credit. The first way would be for the FED to buy existing U.S. Treasury securities. They do this by using the equivalent of newly issued currency. What this does is it helps to expand the res..
Consider two used-car dealers: Bob’s Better Wheels and Dewey, Cheatum, and Howe Motors. Their prices are basically the same for similar vehicles even as their advertising screams that their products are different.
Evaluate the assumptions and conclusions of Arrow's Impossibility Theorem and provide an assessment of both the result and its implications for social decision making
A new machine used for filling cans of liquid hairspray can be set for any average fill. If the amount of fill is distributed with a variance of 0.0025 oz.^2, what setting will cause 93% of the cans to contain 12 oz. or less of liquid
Illustrate what are two reasons economists support free trade. Can you list what three of those assumptions likely.
Describe whether capital generated in the industrialized countries is finding its way to the less-developed.
Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then, if the Fed wants the money supply to be $6,228 billion, what is the necessary level of high-powered money?
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