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Suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is 13 percent.
Use Okun's law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion in that year, how much output is being forgone because of cyclical unemployment?
GDP gap = %
Forgone output = $ billion
Short-Run Economic Costs Suppose a firm has a short-run cost equation of C(q) = 0.1q3 - 3q2 + 60q + 1000, and short-run marginal cost equation of MC(q) = .3q2 - 6q + 60, if the firm produces 25 units of output: Use the MC(q) equation to solve for t..
Every college student had the problem of selecting the college or university to attend. Was this a simple, intermediate, or complex problem for you? Explain.
Explain how can the abolition of cash fight inflation and reduce unemployment.
Elucidate what would be the budget request for FY13 for this effort.
"Anjali and Sanu are married, and Sanu is the breadwinner. Anjali provides 4 non-market hours of service daily, and her productivity at home is $15. Sanu's earnings are $20/hour, and his productivity at home is $10/hour. Draw his daily budget constra..
A Monopolist is deciding how to allocate output between two markets. The two markets are separated geographically. Demand and marginal revenue for the two markets are given by:
Suppose there are 10 consumers in the industry. Each has the following demand: p = 10 - q-Calculate aggregate demand and aggregate supply in the market.
A monopolist faces the following demand curve: P=120-0.02Q-What is the level of production, price and total profits per week?
Illustrate equations for total income also marginal income (interm of Q). what will be the total revenue at price of $ 70? what will be marginal revenue.
discuss its price elasticity and income elasticity. Explain how much control might an organization have over pricing based on a product's elasticity.
As the manager of monopoly, you face potential government regulation. Findout the monopoly price and output.
An economic bad is something you don't want to consume, i.e. less bad is better. Define an economic bad mathematically and name one economic bad in reality. Suppose you had to consume a certain amount of a given economic bad but could pay to get r..
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