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Determine the productivity level of US
Those who live in relatively poor regions of the world today have higher material living standards than their predecessors who lived in those regions a century ago. However the relative gap regarding the industrial core has grown extravagantly and extraordinarily. In the first half of 19th century the average inhabitant of an average country had perhaps one-half the material standard of living of a citizen of the world's leading industrial edge economy. Today average inhabitant of an average country has just one-sixth the productivity level and material standard of living of the leading edge.
Marvelous Marvin spends his money on muffins (m) and a composite good (c) (whose price you may assume is $1 throughout this problem). Marvin's utility is U = m + c and his income (
economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
Compare and contrast the different measures of revenue
The elasticity coefficient is a number measured using price and quantity data to verify how responsive consumers are to changes in the price of a commodity. The elasticity coeffic
Participation Rate:Proportion of working-age individuals who decide to ‘participate' in the labour force, by either being employed or actively seeking work. Precise definition of w
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
I need help with filling out the bank balance sheet.
assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.
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