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Characterize labor conditions in the new economy. Address the following:
- What working conditions do most people have?
- Who controls labor conditions?
Compare two treatments. Treatment A provides an improvement of 0.1 QALYs at a cost of $2,000, whereas Treatment B provides an improvement of 0.2 QALYs at a cost of $5,000. Which treatment will planners prefer by cost-efficiency criteria?
If an economy experiences increasing prospect costs with respect to two goods, then the production-possibilities curve between the two goods will be.
Suppose than on Monday a Big Mac cost $3.00 if the exchange rate is $1 to 85 yen how much do you need to buy a big mac cost in Japan? You waited too long before buying your big mac in Japan and then dollar depreciated by 5%. How much would you now pa..
Two restaurants are on the same block. One has been opened for 10 years and its a thriving business. The other one has been open for only a year. They both want to expand. When the two owners to to the local bank looking for a loan, which one is like..
Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to
The total cost incurred is the sum of the fixed costs and operating costs. The latter increases as more items of a product are manufactured hence the total cost is given by: For a given product, it is found that the number of item s sold correspondin..
The Able Corporation is considering the installation of a small electronic testing device for use in conjunction with a government contract the firm has just won. Assume that Able pays 40% federal and state corporate income taxes and uses 8% after-ta..
Suppose (contrary to fact) that the Scottish independence referendum had passed, Scotland had become independent, and you became its finance minister. Your first order of business is to recommend a currency for Scotland. Three proposals have been mad..
What are problems that monopolies can cause, and why is it difficult for the government to control and regulate monopolistic enterprises?
If she has to eat only whole servings, what will she have for breakfast, and how many calories will she consume? If she can eat partial servings, how would your answer differ?
Consider the following model of trade between Iceland and Finland. There are two goods: Fish and Wheat. The only factor of production is labor. Each Icelandic worker can produce 1 unit of fish or 1 unit of wheat per unit of time, while each Finnish w..
About one out of every ten dollars of federal government spending goes toward interest on the national debt. Over one out of every three dollars of federal tax revenue comes from social insurance receipts. The most important source of local tax reven..
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