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A) Briefly explain the calculation of The Unemployment Rate for the U.S. economy. How is the data collected to compute the Unemployment rate?
B) Explain the difference between Frictional and Structural unemployment. Why do they exist, even at "Full Employment"?
C) What is the ultimate cause of severe inflation in an economy?
Determine the long-run marginal cost function for electricity generation and determine the short-run average variable cost and marginal cost at the output level in Part (d)
Using such areas as producing and information technology or any related industry or areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.
Negative externalities that arise from the production of a good;a. cause an increase in the demand for the goodb. cause a decrease in the demand for the goodc. impose costs on third partiesd. bring private costs into equality with social costs.
Determie what geopolitical events helped shape John Maynard Keynes theories and how did they shape the future of economic policy in the United States and other Western nations?
Compute the marginal rate of substitution of apples for bananas using the marginal utilities. Compute the value of the MRS at (2,4) and at (1, 16).
Entrepreneurship is a factor of production which adds value to the production process and therefore earns a legitimate return to its exertion. How would you evaluate these two contrasting views, and what are their implications for society?
A function of government is to regulate natural monopolies. Describe what is a natural monopoly and why it needs government regulation
Why is it significant for managers to understand both short run and long run supply and demand? Please give one hypothetical or real life example which illustrates your response.
Describe and discuss; Use the concepts of economies and diseconomies of scale to describe a firm's long run Average Total Cost Curve.
How does the Heckscher-Ohlin theory differ from Ricardian theory in explaining international trade patterns and the theory demonstrates how trade affects the distribution of income within trading partners. Explain.
Discuss why is it difficult to estimate who is and who is not in the labor force? What consequence does this have, if any, for the labor market indicator?
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
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