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Assume that the government initiates an economic stimulus package to help the sluggish U.S. economy. Further assume that, among other things, this package includes a one-time payment of $500 to retirees and Social Security recipients. State reason(s) for this payment to retired people. Take a position in support or against this policy.
Why would unemployment also job rationing the consequences of setting a minimum wage of 2 dollar every hour in this marketplace
In the original formulation, which constraints were binding? use SolverTable to discuss the effects of extending labor on the Objective function. Include a well-formatted table as Exhibit B. What would be your recommendation to Imelda?
This production function does not satisfy the definition of rising returns to scale, constant returns to scale, or decreasing returns to scale. How can this be.
Suppose you have hired a new worker, unfortunately you do not know if the worker is a shirker or a hard worker. Suppose working hard raises the probability of making a sale from 40% to 80% (thus raises the probability of making a commission C by the ..
Most nurses in the United States receive their education in community colleges. Mainly because of differences in class size, the cost of educating a nurse is about four times that of an average community college student. Community college budgets dep..
The U.S. Department of Agriculture (USDA) administers the price floor for butter, which the 2008 Farm Bill set at $1.05 per pound. At that price, according to data from the USDA, the quantity of butter supplied in 2010 was 1.7 billion pounds, and the..
Barbara earns $10 per hour at ther regular job, where her maximum daily shift is 8 hours. If she wants to earn more (moonlight), she can work as many hours as she wants at $5 an hour. Initially, she works exactly 8 hours per day. Then the wage on her..
Explain why trash collection on campus is provided by the University, instead of by individual students and faculty members.
A longstanding issue in economics is how income taxes affect government revenue. Proponents of increasing income taxes say that taxing citizens at a higher rate will increase government tax revenue since you are collecting more from each person. Plea..
Assume the market for fruit from a local fruit stand has the supply and demand curves given below. Find equilibrium price and quantity in the market. Calculate consumer surplus at equilibrium. Calculate producer surplus at equilibrium.
A December 2007 issue of The Economist contained the following quote in an article about Germany: "The government has just chopped the payroll tax that finances unemployment insurance, which should encourage employment." Comment on this statement,..
Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 83 - 2PX. Suppose the government imposes a price floor of $36, and agrees to purchase any and all units consumers do not buy at the floor price of $36 per unit
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