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Question: Suppose Oregon proposes indexing the minimum wage to inflation. In the space below, summarize what it would mean to index the minimum wage to inflation, and then describe the substitution and scale effects you anticipate with this policy? (In your response, assume that the minimum wage is an effective price floor and that both factor and product markets are perfectly competitive.)
1. What does it mean to index a minimum wage to inflation?
2. Describe the scale effect in this scenario.
3. Describe the anticipated substitution effect in this scenario.
Suppose that U.S. government actively uses the fiscal policy to fight against recession and rising unemployment. To incorporate this behavior of government into the model, let’s assume that the government spending equation is given by where 0.
1. suppose that in the market for us meat packers two things happen simultaneously 1. due to growth in less developed
Estimate whether and how each of the following factors would shift demand curve for chiropractic visits; an increase in the out of pocket price of chiropractic visits.
Write a 2500 words research paper, great recession and imperfect markets includes data and graphs.
Price of oil in international markets has dropped stunningly 60 percent. Discuss the impact of price elasticity of supply and demand in short and long terms.
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Which of the following is the best example of a public good (or quasi-public good)?
Use MATLAB to generate N = 128 samples of the signal given as: x(n) = 2cos(n15Π/64) + 3sin(n17Π/64) n = 0,1,2,3,....,N, Compute the DFT of this sequence using the MATLAB FFT routine. Plot the magnitude of the FFT and locate the locations of the pe..
Housing prices: Suppose a condominium can be rented for $1,000 a month, it depreciates at 10 percent per year, and the annual interest rate is 5 percent.
Alvin's Uncle Arnold gave him $16,000 from selling the old family farm. Alvin wants to start college and have $12,000 available to buy a used car.
You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run. How would you respond to the following scenarios?1. A surprise increase in investment spending 2. Catastrophic floods that ..
A revolutionary technology used in the production of brown rice lowers its cost of production given ceteris paribus. As a result, the market changes to a new equilibrium because of a(an)
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