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Explain how the United States calculates unemployment and why many economist do not find this as a real economic indicator. How is unemployment calculated in other countries? Give two examples. What are your thoughts and ideas on this?
Critically evaluate and explain: in monopolistically competitive industries, economic profits are competed away in the long run; hence, there is no valid reason to criticize the performance and efficiency of such industries.
Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
There are 2 fishermen, Zach and Jacob, who fish along a certain coast. Both would benefit if lighthouses were built along the coast where they fish. The marginal cost of building each additional lighthouse is $25.
Patrick Cockburn Iraq Study Group's Cautious Appraisal Leutisha Stills Just How Progressive is Congressional Black Caucus.
Determine the path followed by capital per worker and output per worker in the first 15 periods after z falls.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
If the farmer rented her land from a landowner,would she have the same incentives to control soil erosion. What would the landowner have an incentive to control erosion.
q.there are two countries- home and foreign. suppose that the production of vacuum cleaners exhibits external economies
q1. the simple is-lm model predicts which cutting the governments budget deficit will reduce output in the short-run.
Suppose that the government places a ceiling on the price of a medical drug below the equilibrium price. Explain why there is a shortage of the medical drug at the new ceiling price.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
From the scenario, suggest substantive ways in which Herb and Renee may use the information in the table in order to ascertain the profit maximizing level of output and price. Provide a rationale for your decision.
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