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Use the following scenario to answer the questions (Part B1) and (Part B2).
In a given year in the United States, the total number of residents is 100 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 5 million.
(Part B1) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?
(Part B2) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year?
Use the corresponding models and the interest rate and exchange rate effects to evaluate the respective effects of the two proposed policies in view of the US politicians' goal of reducing the country's twin deficit and make well-argued policy rec..
Suppose an economy has the following production function: Y=F(K,L)=K0.4L0.6, Determine the per worker production function.
What is the current economic situation and how did we get here? Give your policy recommendation with some detail, including the timing of policy normalization, especially in light of the current and leading indicators on your US Economic Dashboar..
Best Buy and Circuit City are competitors in the customer electronics market. Both have relatively large margins on plasma TV's. Essentially,
The market for a product is expected to increase at an annual rate of 8%. First year sales are estimated at $60,000, the horizon is 15 years, and the interest rate is 10%. What is the present value?
If the crossprice elasticity between Good A and Good B is -1.5 and the percentage change in quantity demanded of Good B is 15%, what is the percentage change in the price of Good A?
An individual's taxable income increase from $20,000 to $30,000 a year, and taxes paid amount increase from $5,000 to $8,500. Determine the individual's marginal tax rate is:
Many economists believe that a falling money supply was in part responsible for the severity of the Great Depression of the 1930s. From this perspective, was the check tax a good policy to implement in the middle of the Great Depression?
What policies can the government implement to help the UK citizens bring down the house prices? What can be done to improve the supplys of housing in UK and also to improve the shortage of manpower in the construction field?
A farm has 600 acres, andyou can plant either corn or soybeans (or both). An acre of corn gives $150 and anacre of soybeans gives $80. There are 2000 hours oflabor available; an acre of cornuses 4 hours and an acre of soybeans uses 2 hours. Formulate..
All economics textbooks give examples that show diminishing marginal utility as consumption rises-However, it could be argued that a rational buyer should never experience negative marginal utility. Why?
Suppose a small city dry-cleaning market, which is monopolistically competitive. Currently, the typical dry-cleaner is charging $5 an product.
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