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A change in population:
Assume a one-time decrease in population, possibly caused by an onset of disease or a sudden out-migration,
a. Determine the effects on the labor marketplace. Illustrate what happens to labor i/p, L, and the real wage rate, w/P?
b. Use a variant of Figure 8.8 to determine the effects on the market for capital services. Illustrate what happens to the real rental price, R/P? Illustrate what happens to the interest rate, i?
c. What happens to output, Y, and consumption, C? What happens to investment, I? What happens over time to the stock of capital, K?
Illustrate what does GDP income leave out. Should a country meet additional quantifiable goals before being considered "developed".
if income were hypothetically $0 aggregate expenditures would be $2,500. What is the marginal propensity to expend?
Explain why lean manufacturing requires a stable demand environment. Describe how success to successful system archetype works. What should be done about it.
the first automobiles were built in 1901, they were manufactured by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production.
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table.
If the resource prices return to original levels, but a new technique is invented that can produce.
Suppose taxes are measured in cents as in the first case, but consumption is measured as gallons consumed every month.
Using the results obtained in part (b) and part (c), derive the monopolist's short-run profit-maximizing level of output.(e) Determine the price charged by the profit-maximizing monopolist and the amount of profit earned.
Utilize these values at this point on demand to make the subsequent computations.
q1. the long heel press produces memo pads in its local shop. the corporation can lease its paraphernalia and hire
Each customer purchases their smoothie at the store where the total cost, i.e. price of smoothie plus travel cost, is the lowest.
What difference did the Calvinist notion of predestination play such a critical role in the accumulation of capital in countries such as Switzerland, the Netherlands and Great Britain?
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