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1. Haven’t there always been “knowledge” workers, people who do more than what a robot could do? Why, then, has such a big deal been made of the “knowledge economy” and the “knowledge worker” in recent years?
2. According to some management experts, mechanisms will have to be created for harnessing the wisdom of crowds. Change, innovation, and adaptability are crucial. How might markets inside the firm answer these challenges?
Define the deadweight loss of a unit excise tax on a particular good. Explain what it measures. Draw a graph of possible supply and demand curves for a particular good for which the deadweight loss (DWL) from a unit excise tax is about half as big as..
Welfare is a contentious topic in America, but it’s just part of the overall budget process. In essay form, explain how the federal budget is divided. Which of those categories fluctuates (give an example) and which is fixed?
Can you identify the consequences of a strong dollar or a weak dollar in the United States? which direction do you prefer for the overall health of the American economy? Should the U.S take measure to ensure that the dollar retains its dominant role ..
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.
The Bureau of Labor statistics (bls.gov) publishes the unemployment numbers. As we look at the historical number, what is your opinion on the Natural Rate of Unemployment? What is the lowest unemployment figure we have seen in the last 20 years? Thou..
A proposal has been advanced to limit advertising of pharmaceutical prices to prevent unfair pricing by national chains. You estimate that limits on price advertising will change the price elasticity of demand from -5.63 to -4.43. From the pharmacis..
There is a potential entrant, who needs to pay a sunk cost of f to enter in this market. Firms may produce any quantity that does not exceed its capacity.
Which policy monetary or fiscal would be more appropriate to improve the situation. Explain your choice clearly using figures.
Evaluate the performance of using the composite index of leading indicators in forecasting the recession in the U.S. (you may need to search additional information for answering this question).
What are the problems created by going directly to the manager with questions concerning data dictionary entries? Use a paragraph to list the problems you can see with your team member's approach.
Consider two communities. In one community, ten families have incomes of $100,000 each and ten families have incomes of $20,000 each. In the other community, ten families have incomes of $200,000 each ten families have incomes of $22,000 each. In wh..
Explain how the long run differs from the short run in pure competition. Explain how the entry and exit of firms affects resource flows and long-run profits and losses.
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