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Using labor supply and demand graphs for both the Keynesian and classical models show that involuntary unemployment may exist in one model but not the other. What contributes to involuntary unemployment?On separate graphs, please show the effects of an increase in the demand for labor in both models.
Why is economics considered a social science? What role does economics play in your personal and professional lives?
Your company is considering the purchase of new earth movingequipment. The total purchase is $240,000 and we pay with $100,000 cash and borrow therest. (12% per year nominal, compounded monthly for 5 years).
The opening statement on the Web site of the Organization of Petroleum Exporting Countries says, "OPEC's eleven members are all developing countries whose economies are heavily reliant on oil export revenues. THey therefore seek stable oil prices ..
Assess the possibility for the euro to become another global currency rivaling the U.S. dollar. If the euro really becomes a global currency, what impact will it have on the U.S. dollar and the world economy?
A central city imposes a rent control law that places a binding ceiling on the rent that can be charged for an apartment. The suburbs of this city do not have aren't control law. What happens to the rental prices in the suburbs and to the equilibr..
You are given the following information concerning Freedonia, a legendary country, Determine the marginal propensity to consume in Freedonia, and what is the marginal prosperity to save?
Effects on the exchange rate among the British pound and the Japanese yen.
To try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services that exceeded the maximum fe..
Describe the firms optimal advertising-to-sales ratio.
If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax.
A farmer grows a bushel of wheat and sells it to a miller for $1.00. The miller turns the wheat into flour and sells it to a baker for $3.00. The baker uses the flour to make bread and sells the bread to an engineer for $6.00. The engineer eats the b..
Suppose you're an economic advisor in charge of trying to raise a maximum level of tax revenue for the government. You consider taxing the suppliers in the market for corn, a major agricultural product in the United States.
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