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Unemployment and Inflation.1. A couple of authors discuss the trade-off between inflation and unemployment. In what sense does this so-called Phillips curve represent "class conflict?"2. In an up-coming textbook chapter you will learn that wages reflect the productivity of labor. That is, higher productivity brings higher wages, and vice versa. How do the readings in this group cast doubt on this morsel of theory?
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
Outline a micro-economic reform issue that is relevant to the Australian economy market and how successful do you think these reform measures were and say why referring to some data or research that has been performed.
Mathew's utility function implies that the marginal utility of apples is 0.5vX/Y and the marginal utility of hotdogs is 0.5vY/X . How many apples and hotdogs will Mathew buy?
Describe how the circular flow diagram illustrates the interaction of households, governments, and business and Describe the relationship between market and aggregate supply and demand?
Why does increasing productivity index effect the total product and marginal cost When the productivity index is moved from 0% to 25% Total product increases and the marginal cost decreases.
Most people are consumers, making demand decisions in product markets, and also workers, making supply decisions in resource markets. How do workers choose how much of their labor service they are willing to sell Is the quantity supplied likely to ..
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms. Her most optimistic estimate (a price not expected to be exceeded more than 10 percent ..
a. Distinguish between explicit and implicit costs of your college education giving examples of each. b. What are your fixed costs Variable Costs c. Use a real-world example to explain the law of diminishing marginal productivity in your co..
Provides a detailed and well-supported explanation of the justification for natural monopolies according to economic theory.
As part of the preparations for the arrival of a hurricane, NC residents sought to buy electricity generators. As a result, you expect that in NC
A firm has estimated the following demand function for its product:
What is the most important factor leading to rising health care costs in the United States since 1980? a)The increased use of expensive medical technology b)Teh aging U.S. Population
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