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In 2009 General Motors (GM) announced that it would reduce employment by 21,000 workers. What does this decision reveal about how GM viewed its marginal revenue product (MRP) and marginal resource cost (MRC)? Why didn't GM reduce employment by more than 21,000 workers? By fewer than 21,000 workers?
What are the positive and negative aspects of budget deficits and surpluses? What policy is best for today’s economy? Explain your answer.
Scarcity forces society to come up with a mechanism to determine how output is to be distributed. If society decided not to use price as an allocative mechanism (price determines who receives goods and services), then what would you suggest as an alt..
The impact of labor migration on patterns of international trade depends on the characteristics of the labor migrants. In which cases might migration expand trade? World income? In which cases might it reduce trade and world income?
Some reject fiscal stimulus measures in all policy forms. Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) commercial banks, and (c) w..
Define uncertainty. What are some of the basic causes of uncertainty in engineering economy studies? Will the increased use of automation increase the importance of engineering economy studies? Why or why not? “Making recommendation about whether jet..
Suppose that the inflation rate is currently 4%. The level of potential real GDP is estimated at $4 trillion and the level of current real GDP is estimated at $3.75 trillion. Use the Taylor rule to estimate the target Federal funds rate
The price of good A is Eur 20,the quantity demanded is 500 units at yhis price,and price elasticity of demand is Ep=1,8,then a reduction in price of the good by eur 5 would increase the total revenue of seller by
Analysis of the balance of trade and the financial flows between domestic and foreign entities. Imports and exports vital to Viet Nam’s GDP will be examined.
During the Self-Determination Period, Federal agencies have:
In her economics course, Nancy has two exams. Her overall score for the course will be the maximum of her scores on the two exams. Nancy decides to spend a total of 400 minutes studying for these exams. On a graph with x1 on the horizontal axis and x..
The supply and demand schedules for tickets to basketball games in town of Oakwood are given in the table below.
What did you learn? Why is it important? How do the Economics concepts we just covered impact the economy, you and your family, your friends and your employer? 1. Select the top ten (10) most important ideas / concepts you learned in chapters 3 & 19 ..
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