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An increase in the demand for autoworkers may come about because of all of the following EXCEPT a(n):
decrease in the market wage rate.
increase in the price of cars.
increase in the productivity of autoworkers.
increase in the supply of other factors that autoworkers use in production.
Using the mid-point method, calculate the price elasticity of demand from Point A to Point B. Show the steps of your calculation. Suppose John operates his sandwich stand at the portion of the demand curve between Points A and B. If John would like t..
What advantages might a socialist system have in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January, 2010?
Prepare a flexiable budget performance report, assuimng that the company worked 8,500 direct labor hours during the month.
compare and contrast the political and economic differences of at least two countries (for example India and the United States); and 4) discuss what managers can do to successful work with the opportunities and challenges present in this global ..
List at least one advantage and one limitation of international trade you encountered in the simulation. Define absolute and comparative advantage in your own words.
Some finance experts advise consumers not to worry about rising gasoline prices, the cost of which can easily be covered by forgoing one takeout meal a month, but to worry about how high energy prices will affect the rest of the economy. For example,..
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. Explain what impact do you suppose farm subsidies are likely to have on the following?
The Department of Public Works also Highways (DPWH) is considering the construction of a new highway through a scenic rural area.
Use the same number as in problem number 3 except that now assumes there are 6,000. What is the value of 1 statistical life? 4. Use the same number as in problem number 3 except that now assumes there are 6,000. What is the value of 1 statistical lif..
In 1990, the ratio of Japanese to US labor productivity in the steel and consumer electronics industries were estimated to approximately 1.4 and 1.12. What country has the comparative advantage in producing steel and what country has the comparative ..
I have noticed that politicians continue to advocate an increase in the minimum wage. Politics and political manoeuvring aside, is there an economic reason as to why a higher minimum wage would benefit the economy?
Suppose that the nominal interest rate on three-month Treasury bills is 8 percent in the U.S. and 6 percent in the U.K., and the rate of inflation is 10 percent in the U.S. and 4 percent in the U.K. a. What is the real interest rate in each nation? b..
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