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How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market? a. migrant farm worker b. steel worker c. nurse d. bank executive
For each of the following, identify whether the statement is true, false or uncertain and justify your answer. If everyone has the same marginal rate of substitution, then the allocation is Pareto efficient. b) If a policy change increases social wel..
Guess the duration of the following investment. Is it less than two years, two to three years, three to four years, or greater than four years? After your guess, use a discount rate of 6 percent and calculate the PV of the cash flows and then duratio..
1.Refer to the time series data in Exercise 1. Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy:
It is observed that in an area with a lot of illegal immigration, the average wage of native born workers actually increased. Explain how this could have happened, using economic logic. Also, judge whether this is good or bad for the local economy.
How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market?
If county government offices required that all employees must live within the county limits, what impact would this have on the elasticity of demand for employees of the county government offices?
Many elderly people have Social Security payments as their sole source of income. Because of this, there have been attempts to adjust these payments so as to keep up with changing prices. Write down the algebraic representation of this consumer's bud..
What is the duration of a bond with a par value of $ 10,000 that has a coupon rate of 3.5 percent annually and a final maturity of two years? Assume that the required rate of return is 4 percent compounded semiannually. What is the duration of a two-..
1.The Seneca Children's Fund (SCF) is a local charity that runs a summer camp for disadvantaged children.
Suppose you are asked to analyze an economy with an employed labor force of 100 million workers, a capital stock of 25,000 billion USD and total factor productivity equal to 5. You also estimate the APF for the country to be: What is the value of RGD..
Technology, including travel-driven technology, has made the world smaller. It has enabled the rapid exchange of ideas and information, further shrinking the world. This has also led to more porous borders with significant difficulty in ensuring safe..
Elucidate and illustrate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
Consider a hypothetical economy in which the marginal propensity to consume. Plot an economy consumption function.
If this were the case would there be any automatic stabilizers in the government economy. Would there be any distinction between the full-employment deficit also actual budget deficits.
Admiralty law the law that deals with controversies arising on navigable waters used a rough-and-ready method of dealing with the problem of the administrative costs of comparative negligence. Rather than try to fine-tune the degrees of culpability b..
Employment and unemployment are big issues in America. Every week, the news outlets report the number of new unemployment claims made at unemployment offices around the country. We typically have 150 million people as part of the workforce.
Discuss the capture of the regulatory agency and your prediction as to the capture of the replacement regulatory agency and the politicians in the future.
In the text, we considered a sequential move game in which an entrant was considering entering an industry in competition with an incumbent firm. Consider now that the entrant, if fought, has the possibility of withdrawing from the industry (at a los..
John advertises his used car for $5,000 in the newspaper. He would be willing to sell his car for as little as $4,000. Bill values the car at $4,800 but offers $4,500 for it and John accepts. How much producer surplus is created by this trade? How mu..
Suppose for an economic activity, your total benet and total cost functions are B (x ) = 654x - 40x2 and C (x ) = 110x +120x2 , respectively. The corresponding marginal formulas will be MB (x ) = 654 - 80x and MC (x ) = 110 + 240x . What is your best..
When a company's depreciation is larger than its gross investment, net investment becomes negative and the firm's capital stock decreases.
What are some contemporary technology issues? How do we learn to accept the social responsibilities of educated citizens in a global technological society?
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