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Answer the following questions using examples and applications from the readings. Justify your answers using economic concepts and ideas as they apply. Each response should be between 100-200 words.
Questions:
The demand for labor is said to be a "derived" demand. What is the meaning of a derived demand? How does this concept help to determine the demand for labor? What are some of the factors that determine the supply of labor in a market? What significant factors have changed the supply of labor over the last twenty years? How does a firm determine its prices and the quantity of labor required in the resource market during a specific period? Why do income inequalities exist? How are income inequalities measured? How have income inequalities changed from 1980 to the present? What is the role of the U.S. government, in terms of dealing with the problem of income inequalities? What are the arguments, for and against, government involvement in this area? Why do nations trade? What is meant by the concept of "Comparative Advantage"? Could a nation be better off economically, if it practiced an isolation policy? The United States has had a significant trade imbalance for several years. What are the problems associated with having a negative trade balance? What can be done to correct the imbalance?
What is the Sharpe ratio on a portfolio of US Stocks and what is the lowest value for such that these numbers from the data are consistent with equation (2)?
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
The demand curve for haircuts at Tanas Hair Design is P = 40 – 0.40Q where Q is the number of cuts per week and P is the price of haircut. At a price of $15, should Tanas raise the price of the haircuts?
a. state and explain the law of diminishing marginal utility and do the same for the law of diminishing returns.b.
Your civil engineering consulting firm is going to purchase a new computer-aided design (CAD) system at a cost of $100,000. The CAD system will have no salvage value at the end of its useful life of 5 years.
Express output per worker (y=Y/L) as a function of capital per worker and the natural rate of unemployment and write an equation that describes the steady state of this economy.
the gpi bookstore orders sweaters with the gpi logo on them and sells them for 40 a piece. during a typical month 80
Why will a monopolist"s output increase if the government forces it to lower its price? If the government wants to set a price ceiling that maximizes the monopolist"s output, what price should it set?
the fully allocated cost of a product is 10. if the price elasticity of demand for the product is -2 then the firms
we constructed in class the exponential function ex with the property that dexdx ex. we also defined lnx as the
in the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting
What is the source of these profits? Upon patent expiration, numerous rival drug companies offer generic versions of the drug to consumers.
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