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Some workers in the economy are paid a flat salary and some are paid by commission. Which of compensation scheme would require more monitoring by supervisors? In which case do firms have an incentive to pay more than the equilibrium level (as in the worker effort variant of efficiency-wage theory)?
Explain why is it difficult to determine who is and who is not in the labor force. What consequence does this have, if any, for the labor market indicator.
The public tends to view trade deficits with alarm while macoreconomics claims that trade deficits can actually be usefull for the economy. Discuss the macroeconomists position on trade defilicts
The table below shows the market basket quantities and prices for the base year year 1.Base year 1 Price in price Quantity base year yr 2 Product.
1. Using your understanding of tax incidence explain why some states do not charge sales tax for basic foods. 2. Explain how the elasticity of demand influences tax revenues? 3. Define progressive, regressive and proportional taxes and give an exampl..
Explain how is the United States doing in the most recent quarter compared to Japan, the Euro Area and Canada in terms of production and employment.
Suppose you are an advisor to President Obama. Illustrate what fiscal policies would you put in place.
What is the labor force participation rate? What was the labor force participation rate in 2008? How has it changed since 2008 and what does this change imply for the state of the economy? Does the labor force participation rate effect the unemplo..
Choose a market for a good in your area that seems to be a perfectly competitive market. Identify the buyers and sellers as well as the goods or services. How closely do real world conditions match the characteristics listed in the model
Suppose the market for dollars is in equilibrium, then the expected future exchange rate rises. What effect does this have on the current exchange rate?
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
Given a numeric production schedule, you will calculate profit and make decisions about short-run profitability to answer questions relating to your calculations. Jerry's Lock Shop is a perfectly competitive firm, and Jerry is operating at his lev..
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