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Consider the following distribution of income in a 12 person economy, with the modern urban wage=3, the traditional rural income=1 and the informal urban wage = 2: (1,2,3,1,2,3,1,2,31,2,1). the poverty line is at 1.3.
Based on following information
1) What is the level of absolute poverty in this economy? What policy (only one) would you adopt to mitigate this poverty?
2) Suppose rural incomes are raised to 1.5 though expanded agricultural expects. What will happen to the Gini coefficient of this economy? Why?
Embassy Motorcycles (EM) manufactures two lightweight motorcycles designed for easy handling and safety. The EZ-Rider model has a new engine and a low profile that make it easy to balance. The Lady-Sport model is slightly larger, uses a more tradi..
Two drivers—Tom and Jerry—each drive up to a gas station. Before looking at the price, each places an order. Tom says, “I’d like 10 gallons of gas.” Jerry says, “I’d like $10 worth of gas.” What is each driver’s price elasticity of demand?
a profit maximizing monopolist is earning a positive economic profit. the wage it pays its workers rises. how will the
If market price is $60, how many units of output will the firm produce? Zero units of output because the firm shuts down. 1 unit of output. 2 units of output. 3 units of output.
Husband and wife exchange wedding rings during their marriage ceremony.
Suppose that Auburn begins a new living wage that paid all retail workers in the city $18 per hour, while the going wage in neighboring Roseville for retail workers was $8 per hour . If the odds of getting a job as a retail worker in Auburn are 40..
Savings accounts pay very low rates of interest. The average return on the stock market is about 10-12 %, in the long run. Why would anyone put money into a savings account?
Could it be possible that a government regulation led to flash crash and what does it mean "it's like a balloon"? What is like a balloon? Why is it like a balloon?
what are the factors that affect pay differentials? how does each factor increase or decrease relative wages?explain
a. Explain the relationship between the law of diminishing marginal returns and the shape of a firm's marginal cost curve b. The long-run equilibrium for a perfectly competitive industry occurs when the firms are earning economic profits of zero.
Normal 0 false false false EN-US X-NONE X-NONE What is the total interest ..
Total Revenue and profits are maximized at the same level of output if:
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