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Consider the optimal choice of labor and leisure discussed in class and the text. Suppose a consumer works the first 8 hours of the day at a wage rate of $10 per hour, but receives an overtime wage rate of $20 for additional time worked.
a. On an optimal choice diagram, draw the budget constraint. (Hint: it is not a straight line.)
b. Draw a set of indifference curves that would make it optimal for him to work 4 hours of overtime each day.
Elucidate the concept of the multiplier, and explain the role of the marginal propensity to consume in determining the size of the multiplier.
Highlight the subprime mortgage crisis that rocked the financial market in the late 1990's and its aftermath. The report should be conclusive and should not exceed 2000 words.
Which of the following value chain activities is unlikely to be a primary building block in a company's organizational structure:
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q. assume you have been hired as a managing consultant by a company to offer some advice that will help it make a
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Identify the most important factor shifting the AS curve in the long term. Briefly explain both how and why this factor shifts the aggregate supply curve. Identify and briefly explain the neoclassical argument and the key building blocks of neoclassi..
A rule of common law takes precedence over a statute. Legislatures have the power to change the law by enacting new rules of common law. Statutes take precedence over rules of common law.
A set of earmuffs has an NRR of 30 dBA, and a set of plugs has an NRR of 20dBA. Workers in a car factory are exposed to 110 dBA for 8hrs. Workers wearing the muffs take them off for half an hour each day while working due to discomfort whereas plug w..
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