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The Bureau of Labor Statistics reported the following data for the year to June 2009: In the nonfarm sector, output fell 5.5 percent as labor productivity increased 1.9 percentlong dash-the largest increase since 2003 long dash-but in the manufacturing sector, output fell 9.8 percent as labor productivity increased by 4.9 percentlong dash-the largest increase since the first quarter of 2005.
Read the newsclip, then answer the following questions.In both sectors, output fell while labor productivity increased. The quantity of labor (aggregate labor hours) in the nonfarm sector______. The quantity of labor (aggregate labor hours) in the manufacturing sector______. And the percentage change in the quantity of labor was larger in the______ sector.
A. decreased; decreased; manufacturing
B. decreased; decreased; nonfarm
C. increased; increased; nonfarm
D. increased; increased; manufacturing
If the velocity of circulation is growing at one percent a year, the real interest rate is two percent a year, the nominal interest rate is seven percent a year, and the growth rate of real GDP is three percent a year, calculate the inflation rate..
Suppose the demand for ABC product has an elasticity coefficient. Explain how many it will sell per month if the price
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Using algebra find out the effects of this change in cost on profit maximizing output and the optimal profit.
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