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What are the factors that determine wages which are largely responsible for determining how the economy's total income is distributed among the various members of society and what is distribution of income.
A nation is capable of producing wheat and computers. It cannot produce any wheat if it produces 11 thousand computers. Under what circumstances will the nation produce 6 thousand computers and 1 thousand bushels of wheat?
A large wood products company is negotiating a contact to sell plywood overseas. The fixed cost that can be allocated to the production of the plywood is $800,000 per month. The variable cost per thousand board feet is $155.50. The price charged will..
The Labor Management Reporting and Disclosure Act was created in an effort to protect union leaders and members from illegal practices committed by their employers. The ultimate power of a union is the willingness of its members to __________ if no a..
Assume all money is held in the form of currency. Assume central bank money (H) is initially equal to $100 million. Now suppose the Fed conducts an open market purchase of government bonds equal to $10 million. Explain the effect of this action on:
Suppose a presidential candidate criticizes his opponent by saying his opponent’s economic policies have made the dollar weaker and cost American factory workers their jobs. This presidential candidate is:
Assume that a men's dress shirt was selling at $100 in a store. After one week, the store sold only 50 shirts. Then the manager of the store declared a sale "buy one get one free". This resulted in a sale of 200 shirts in the following week. Calculat..
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
Patricia is researching venues for a restaurant business. She is evaluating three major attributes that she considers important in her choice: taste, location, and price. The value she places on each attribute, however, differs according to what t..
Describe the problem of adverse selection when health insurance is offered at a community rated premium? Define the term community rated premium as well. Is it possible to address the problem of adverse selection by increasing the premium level? Why?..
Suppose real GDP is $100 billion below potential and the government implements an expansionary fiscal policy with the intention of eliminating the output gap. The fiscal policy consists of a $100 billion increase in government purchases and a $100 bi..
Suppose Congress is able to reduce its budget deficit permanently. Using the growth model, graphically illustrate the impact of a permanent deficit reduction on the steady-state capital-labor ratio and the steady state level of output per worker.
An investor buys a 3.5% 20-year bond with a face value of $10000 for $10414.22. If the purchaser holds the bond to maturity, how much is the present value of the purchase at an ROI of 3.69% per year compounded semi-annually?
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