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Littleville has 1000 residents, 400 people do not currently work. Of these 400 persons, 240 are under age 16, 10 are institutionalized, 25 have become discouraged and quit seeking work, and 75 others are either full-time students or home-makers. Of the 600 people who do work, 150 work part-time but wish to work full-time.
What is the official unemployment rate in Littleville?
Fill in the blanks below. In an unconstrained maximization problem: The optimal level of activity occurs at the activity level for which______equals. At the optimal level of activity,______is maximized, and the slope of______ equals the slope of_____..
Given the following information for the Macro Economy answer the following questions. In this economy we have an MPC equal to 0.80, Autonomous Consumption of $600 billion, Planned Investment (I) of $1,000 billion, Government Spending (G) of $1,200 bi..
Conforming is changing one's beliefs, accepting both the goals and the means of society. What if conformity does not work? What if some individuals who work hard all their life and still aren't be able to achieve wealth?
What are externalities? Why are they a problem in a market economy? In other words, what about externalities makes a free market fail at correcting them?
On Friday night, Elton and his partner Rodney are deciding where to go for dinner. The choices are Indian, Korean, and Mexican. Elton most likes Indian food and most dislikes Mexican food, whereas Mexican is Rodney’s favorite and Indian is his least ..
Approximately 90,000 students per year apply to the top MBA programs. Using the concept of net present value and opportunity cost, explain when it is rational for an individual to pursue and M.B.A. degree.
Price will increase; quantity cannot be determined. (Assume CD players are normal goods.) Which of following will happen to equilibrium price and equilibrium quantity for CD players
?Zeta is an American multinational retail corporation. To move ahead of its competitors and increase revenue, Zeta began to employ a system to determine which products to stock and at what prices, and how to advertise to draw target customers. The pr..
If researchers wanted to measure the effect of alcohol on the development of the hippocampal region in adolescents. The researchers randomly selected
For which values of A, L,K, a, and b is the Average Product of Labor for this company equal to the Marginal Product of Labor?
Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired but earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each. Calculate as an economist the tota..
Why is it important to modify the look of the text on your page depending on the content? What can you gain from using bold or italics or other modifiers?
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