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When looking at historical unemployment rates, how accurate are they? If this is the case, are they valid to compare and contrast to current rates?
According to the life-cycle hypothesis, determine the typical pattern of saving for an individual over his or her lifetime?
Discuss structural, cyclical, frictional, and natural unemployment. What fiscal and monetary policies are appropriate to fight unemployment? What type of unemployment will be affected most by these policies? Why? Which will be affected least? Why?
Describe three problems of using fiscal policy to achieve a precise level of GDP and why is frictional unemployment inevitable in an economy characterised by imperfect job information and non-zero job-search time?
Stones for the pyramids were quarried far to the south (upstream on the Nile River) and were brought downstream on rafts only during the spring flood of the Nile. Discuss some of the planning and organizational implications of this immense logisti..
Go to the US Bureau of Labor Statistics at (http://stats.bls.gov) or check othersources and get the following statistics for January 2007 and January 2013 (Youwill find it in a file called employment status of civilian populations; Look in thenot ..
Suppose a firm has total cost function given by TC(Q)=10Q+70. What are its marginal costs when producing 10 units of output?
Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid role for fiscal policy?
An accountant for a car rental company was recently asked to report the firm's costs of producing various levels of output. The accountant knows that the most recent estimate available of the firm's cost function is:
Define what is anything that is used to determine value during the exchange of goods and services?
An interesting paradox called the "Paradox of Thrift" arises when households become concern about their future and attempt to increase their saving. As a consequence of such action the overall economy will suffer. Explain. Do you agree with thi..
There have been increasing debate on the merits and demerits of the job specialization. Most of its proponents have argued that job specialization have a positive impact to any organization or firm especially on increased labor productivity.
Assume there are only two automobile companies, Ford and Chevrolet. Ford believes that Chevrolet will match any value it sets, but Chevrolet too is interested in maximizing profit.
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