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In this question, you will explain the impact of employment and unemployment in a free market economy. The country of France legislated the maximum length of a workweek. Because Americans tend to work more hours than Europeans, should the US government also legislate the maximum workweek? What consequences would a cap of 45 hours per week have on the US unemployment rate and on wages?
Every election season, the Affordable Care Act commonly known as OBAMACARE, becomes political folder, what do you think has been the impact of the act on society, individuals, healthcare costs, businesses and employment?
Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc. In the first case, assume the me..
What is the difference between the Federal Funds Rate and the Discount Rate? Please explain the difference by providing an explanation of each rate and their purposes. Is there anything else that the Federal Reserve can do to change the supply of mon..
Suppose that inverse demand is given by D(Q) = 56 − 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f (a) Find the limit output for fixed costs ( f ) equal to 50, 32, 18, and 2. (b) What is the SPNE for the entry game with the following tim..
The elasticity of variable G with respect to variable S is defined as:
How macroeconomic equilibrium does an economy achieve. Elucidate what affect does a high level of inflation have on macroeconomic equilibrium.
What are the key features of the consumption function? What causes consumption to rise or fall? Does the level of consumption deserve concern today?
Suppose that the price index for the years 1980 and 2010 is equal to 60.0 and 180.0, respectively. Also suppose that Maya earned an annual salary of $20,000 in 1980. Given the above, how much would Maya have to earn in 2010 in order for her salary to..
Explain how the average rate of per capita income in south africa between 1960-1991 compered to 1991-2010.
Compute a range of possible values for total gain with a Illustrate what is meant by the term 'utility,' and how does it relate to purposeful behavior.
Find the equilibrium price and quantity. Find the consumer and producer surplus at the equilibrium. Find the socially optimal level of output of paper. How can a corrective tax bring about this equilibrium? How much revenue would the corrective tax r..
q1. suppose that there are crowding-out effects and the mpc is .9. by how much must the government increase
Suppose that hospitals use nurses (N), doctors (D) to perform surgeries (Q). The production function for surgeries is: Q = F(N;D), where F(N;D) is some function that increases in N and D. Assume that the marginal products of N and D are diminishing
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