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Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor force? What is the official unemployment rate?
Sam currently earns $30,000 per year. the governments is considering a policy that would increase sam's income by 12%, but raise all prices by 8%. what is sam's compensating variation for the proposed policy? can you compute it without knowing his..
What are the marginal rates of substitution for each person and what is the formula for the contract curve and draw an Edgeworth box, labeling carefully, and indicate the contract curve.
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoners' dilemma?
You're the manager of the firm that sells a commodity in market that resembles perfect competition, and your cost function is C(Q)=Q+2Q^2. Compute the expected market price.
"Output per worker is expected to increase by 10 percent during the next year. Therefore, wages can also increase by 10 percent with no harmful effects on employment, output prices, or employer profits." Analyze this statement.
The demand for a specific brand of toothpaste and the demand for toothpaste in general b. The demand for gasoline in the short run and the demand for gasoline in the long run
Can the Farm produce 500 bushles of corn and 500 pounds of beef per year? Can the farm produce 800 bushels of corn and 1200 pounds of beef a year? What is the opportunity cost of the farm increasing beef production from 900 pounds to 1200 pounds per ..
Suppose that Jones and Smith have each decided to allocate $1000 per year to an entertainment budget in the form of hockey games or rock concerts
a) Explain what happens to observed prices in posted offer and double auction markets when there at least two sellers. b) Explain what happens in these two markets as the number of sellers drops to only one seller.c) explain how part
"The Economics of Professional Sports" Please respond to the following: Explain the economic consequences that would unfold if one of the major four sports leagues in the United States reorganized into a single-entity league. Discuss the consequen..
A huge number of successful businesses' such as Apple, The Cheesecake Factory, and E-Bay, were built around the personal passions of their founders. Consider your own personal passions. What do you love to do What are you great at doing
Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatl..
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