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Use the data provided below to calculate each of the following:
a. the size of the labor force
b. the unemployment rate
Population age 16 and older = 12 million
Employment = 5 million
Unemployment = 1 million
If unexpected inflation does not exist
Which of the following is true concerning the consumption habits of ALL levels of government? Which of the following is an example of governmental MANDATORY SPENDING? During which year did the first federal budget surplus occur within the last three ..
Consider a closed economy. Use the supply and demand for loan able funds model to predict the effects of the following events on interest rates and investment.
demand p30-2qsupply p4qequilibrium priceequilibrium quantityown price elasticity of demand equlilbriumconsumer
Within two weeks sales had fallen. Utilizing your knowledge of game theory, Illustrate what do you think disrupted McDonald's plans.
Explain why, when the price of good changes, the price elasticity of demand is likely to be higher or lower as a longer period of time elapses. Consider as an example the OPEC oil price increases in the 1970s.
Think of one situation in which the Government is actively involved with the purpose of changing an outcome in the appropriate market. Do you agree that the Government should be involved? Why or why not?
Sketch a simple supply-demand graph for sunflower, with price on the vertical axis and quantity on the horizontal axis. Don’t worry about quantities or slopes, but make sure demand has negative slope, supply has positive slope, and the two lines cros..
Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training? Why are workers with good looks paid higher in some jobs, but not in others? A recent report released ..
Elucidate the differences among a currency board, a fixed exchange rate system and a pegged exchange rate.
In a perfectly competitive market, the inverse demand for a product is P(Q) = 200 − Q. Production is associated with a marginal private cost, MCP (Q) = Q, and a constant marginal external cost, MCE = 40. What is the unregulated equilibrium under perf..
Assuming diminishing marginal product of additional workers and diminishing marginal product of additional hours-per-worker, how would a profit-maximizing firm adjust its mix of workers and hours-per-worker in response to [ceteris paribus]: (a) A new..
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