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Name two products and two services whose production depends heavily on low- skilled labor. b. What would happen to the wages of the remaining low-skilled, legal workers after the deportations? c. What would happen to the prices of the goods and services that you listed in part (a) and to the quantity produced? d. What would happen to the “cost of living” for more highly skilled people? e. What is your opinion: are illegal immigrants a net economic benefit to the U.S. or a net economic drain? Elaborate.
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor force..
Can Economic Analysis be used as a tool to discover truth and to assist in solution of concrete/major problems in an organization. How.
Suppose you make 30 annual investments in a fund that pays 4% compounded annually. If your first deposit is $6,000 and each successive deposit is 4% greater than the preceding deposit, how much will be in the fund immediately after the thirtieth depo..
Compute the price elasticity of Demand for paint also Elucidate how your calculations. Decide whether the Demand for paint is elastic, unitary elastic or inelastic.
The firm's vice president for manufacturing hires you to out illustrate what combination of inputs the plant should use to produce 20 units of output per period. What advice would you give.
an across-the-board tax reduction in income tax rates or a package of tax-relief measures that would give every household a $200 tax rebate and allow them to deduct the interest they pay on credit card purchases?
The concept of limited liability says a stockholder of a corporation: Professor Jeremy Siegel, of the University of Pennsylvania, did research showing: On the settlement date of a futures contract: Two characteristics that make owning stock attractiv..
Suppose that Italy and Germany both produce fish and wine. Italy's opportunity cost of producing a bottle of wine is 4 pounds of fish while Germany's opportunity cost of producing a bottle of wine is 9 pounds of fish. By comparing the opportunity cos..
The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided.
Draw the payoff matrix for this game. Elucidate any possible Nash equilibria in pure strategies for this game.
Suppose there is a market for hotdogs in equilibrium. Draw a diagram below of such a market. Now, suppose that the price of hamburgers suddenly falls sharply, making it easier and more enticing for consumers to purchase hamburgers than before. Show o..
In long-run competitive equilibrium, product price equals long-run average cost and also equals long-run marginal cost. Thus, economic profit equals $0. Please explain why firms have not incentive to exit the industry.
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