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1) A country with a civilian population of 900,00 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3000 are structurally unemployed. On the basis of this data, answer the following questions: (show your work for credit)
a. what is the size of the labor force?
b. What is the unemployment rate?
c. What is the natural rate of unemployment for this country?
d. Is this economy in recession or expansion? Explain.
Suppose the multiplier has a value that exceeds 1, and there are no crowding out or investment accelerator effects. Which of the following would shift aggregate demand to the right by more than the increase in expenditures?
Suppose Mabel has a utility function U = I1/2. What is Mabel’s general attitude toward risk? How do you know? Explain.
An end-of-sale price promotion changes the price elasticity of a good from -2 to -3. If the normal price is $10, what should the promotional price be?
Consider a new per-worker employment tax on workers (where previously there was no tax). Outline the consequences of this tax on the local labor market. Use appropriate, clear, and well-labeled diagrams. In your answer show (1) the burden of the tax ..
The person credited with the first systematic expression of the principle of comparative advantage was ( )
suppose there are two types of people who need health insurance high-risk and low-risk consumers. high-risk consumers
question 1. consider toms labor supply decision. tom can earn 15 per hour but he faces a 20 tax rate and pays 4 per
Which of the following statements is correct? Marginal revenue equals $3, Average revenue equals $600, Average revenue exceeds marginal revenue, but we don%u2019t know by how much.
nbsp1. southwest airlines is adding 100 million a year in new fees. under new rules customers only get a partial
Owners of digital cameras have to buy memory cards in order to use the cameras. Cameras and memory cards are substitutes or complements,
Thinking About Thinking
the domestic demand for goods x is dd 100 - 20p. the domestic supply of good x is sd 20 20pa. draw the domestic
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