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2. Consider Tom's labor supply decision. Tom can earn $15 per hour, but he faces a 20% tax rate and pays $4 per hour in child care expenses for each hour he works.a. What is Tom's 'real' hourly wage rate?b. How much will it be if he had 128 hours of leisure (= worked 40 hours)d. Tom chooses to work 40 hours a week. On the above graph, draw Tom's indifference curves between leisure and money so that this is his optimal labor supply choice.3. Brad and Angelina are married with kids. Suppose Brad's at-home productivity as a parent is $25 and Angelina's is $40.a. Who has an absolute advantage in the home? How do you know?b. If Brad works in the labor market, he can earn a wage of $500 per hour, while Angelina can earn $600 per hour. Considering comparative advantage, which of the two should specialize in the labor market? Explain.
Illustrate what is the underlying factor which seems to help clarify whether or not the economy is self-adjusting.
Discuss what happens to the demand and or supply and to the equilibrium price and quantity in the market for housing as population increases and at the same time the government releases more land for housing.
A Post Office is set up in the Constitution but no Central Bank was. Why didn't the founders of the US who wrote the Constitution include a bank? How did this omission hamper US economic growth and, more importantly, US economic stability?
A county is considering using a piece of park land for one of two alternative recreation projects. Project S would require construction costs of $2 million (year 0) and generate net benefits of $1 million per year for 10 years.
A clear thesis statement An annotated bibliography for at least 10 scholarly or professional journal articles A summary that expresses the overall plan of the paper, including subtitles and topic sentences for each subtitle provided.
Elucidate an example of a microeconomic and macroeconomic phenomenon. Would you give an example of a microeconomic decision you have made at home or work.
the average price level is $4 per unit also the quantity of money. Illustrate what happens to velocity if the average price level falls to $2 per unit, the money delivery is $2000 also real GDP is 4,000 units.
Draw the Edge worth Box diagram for this economy also Explicate whether the initial allocation of cheese also bread is Pareto efficient.
q1. lets think about two countries frugal and smart. in frugal people devote 50 percent of gdp to making new investment
Why would equilibrium cost of SUVs such as Ford Explorers and Chevy Trailblazers be lower than equilibrium cost of subcompacts.
Each of the estimated coefficients statistically significant at the 95 per cent confidence interval. What is the optimal output level.
Below is a list of domestic output and national income figures for a given year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditure and income methods. The results..
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