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Robert and Janet are discussing unemployment and inflation in their country. On the basis of a recent newspaper report, Robert claims that a 5% reduction in unemployment will lead to a 2% rise in inflation. On the other hand, Janet insists that inflation is a far bigger problem than unemployment and should be addressed with prime importance. Classify Robert's and Janet's statements as positive or normative. Briefly explain how you make the distinction between the two statements.
discuss the importance of the command process and the traditional process in the making of management decisions.
Illustrate how increase in human capital affects production function. Blue line (circle symbols) in graph below shows production function.
Illustrate what is the maximum price of capital at which the firm will still make nonnegative profits.
Suppose the demand for good X is given by Qdx = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and income is $100. Given these prices and income, how much of good X will be purchased?
Smith Co saw a reduction in quantity of widgets is sold, down to 900 units. What is cross elasticity of demand between two brands of widgets.
“If health care in the United States is going to be better, fairer, and more cost effective, it will require leaders to step up to the challenge of change” Explain how the Triple Aim contributes toward realizing the vision of better health in the Uni..
Unlike the physical supply chain, inefficiencies characterize the financial supply chains of most companies.
Illustrate what is the natural rate of unemployment for this economy. Assume the economy has been in equilibrium for a while also the inflation rate is 15%.
Why do five pillars of Islam make it an ideal religion for a nomadic people. Why did African rivers turn out to be a disappointment to European colonial powers.
Illustrate what is Nurd's equilibrium level of income. Illustrate what is likely to happen in the coming months if the government takes no action.
If the marginal product of capital is twice the marginal product of labor and the price of a unit of labor is $4, illustrate what must be the price of a unit of capital.
Why do Keynesian economists believe market forces do not automatically adjust for unemployment and inflation? What is their solution for stabilizing economic fluctuations?
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