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Not long ago an employee came into my office asking for a wage increase. I responded by asking what increase in productivity the employee brought to the University in order to merit such an increase. The silence was deafening. The things that determine prices for labor are the precise same things that determine prices for labor - supply and demand. The greater the demands for a particular skill, generally speaking the more wages are supplied. Once supply and demand issues have been determined, the next logical differentiation in wages is productivity.Provide a few real world examples of how supply and demand and productivity work in the marketplace. Discuss the options for employees to increase the demand for his or her particular skills, as well as ways to enhance our personal productivity.
Illustrate what is the underlying factor which seems to help clarify whether or not the economy is self-adjusting.
Talk about the ramifications involved in conducting business under both/either scenario.
What does the vertical distance between the horizontal axis and any point on a pure competitors demand curve measure.
If the government unexpectedly levies a five-cent tax on every gallon sold by gasoline retailers, illustrate what will happen to the representative firm's cost curves.
You own a car dealership in Chicago also are allowing for buying stock also have narrowed your choice to either purchasing stock in the Good Tires Company or American Bus.
Explain how can each of the 10 principles be applied in an example or experience with which you are familiar. How do you intend to use your newfound knowledge in future economic decisions.
If he estimates that the industry supply function for computers in the town is P = 700 + .5Q, explain how many computers will be sold at equilibrium and at what price would the producers be selling.
Illustrate what money supply should the Fed set in year 2009 if it wants to keep the price level stable.
Illustrate why did official money lose its meaning in Germany during the 1920s. What did the German government do or not do.
Your friend's monthly demand for minutes of calling is given by the equation 50, where p is the price of a minute.
Illustrate what is the practical significance of income elasticity coefficients. Explain the significance using as examples an income elasticity.
Elucidate, with the aid of demand and supply curves, the impact of increased crime on the demand for private security services. On your diagram, show the changes in the equillibrium price and quantity.
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