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Q1. Suppose the number of employed people in an economy is 121,166,640. the unemployment rate in this economy is 10.4 percent, and the labor force participation rate is 72.5 percent.
a. what is the size of the labor force?
b. how many people are unemployed?
c. what is the size of the working-age population?
Q2. Suppose the European Union (EU) is investigating a proposed merger between two of the largest distillers of premium Scotch liquor. Based on some economists' definition of the relevant market, the two firms proposing to merge enjoyed a combined market share of about two-thirds, while another firm essentially controlled the remaining share of the market. Additionally, suppose that the (wholesale) market elasticity of demand for Scotch liquor is -1.6 and that it costs $14.80 to produce and distribute each liter of Scotch.
DHL prides itself on having its own staff of more than 300,000 people spread across the globe, instead of relying on local agents.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Explain the logic of the Ricardian view of government debt and evaluating its practical relevance.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
You read in a business magazine that computer firms are reaping high profits. Assume that the computer market is perfectly competitive.
Brenda Johnson has used a preprinted form that she got from the internet to create her will.
Describe the difference between Economic contraction and Economic expansion
Dependency theory characterizes countries as being either in the center or on the periphery
Calculate price, quantity and social surplus for the initial state and each policy.
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A county is considering using a piece of park land for one of two alternative recreation projects. Project S would require construction costs of $2 million (year 0) and generate net benefits of $1 million per year for 10 years.
Find the equilibrium price and quantity algebraically. If tourists decide they do not really like T-shirts that much, which of the following might be the new demand curve.
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