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In the 2005 Virginia General Assembly, Virginia's "estheticians"---those who give facial treatments, facial massages, skin analyses and the like---came in large numbers to the Capitol to make the case that their occupation should be licensed and regulated. To push their case, they set up treatment centers on the first floor of the major General Assembly building and gave free facial to legislators and their aides. What are the economic arguments in favor of such licensing and regulation? What are the arguments against? If such licensing does occur, what is likely to happen to the number of estheticians that practice, the prices they charge and their average incomes?
Why and under what situation should a company continue to operate when getting negative economic profits
xplains with aid of a diagram, effect that such legislation will have/has had on equilibrium price and quantity of labour employed. Also illustrate what can be done to alleviate/remedy any problem that may rise from above laws.
Calculate the Golden Rule level of capital per effective worker and the saving rate associate with this steady state.
The nation of Potchatoonie produces hockey pucks, cases of root beer also back rubs.
Assume Fed expands money supply, however because public expect this Fed action, it simultaneously raises its expectation of cost level. Illustrate what will happen to output and cost level in short run.
Assuming that your opportunity cost funds interest rate is 5% which refrigerator would you buy and why.
Compare also contrast the four marketplace models in terms of the profit-maximizing.
Suppose that the participation variable, voucher, is completely randomized in the sense that it is independent of both observed and unobserved factors that can affect the test score.
This might be interpreted as an upward shift in the consumption function. How does this shift affect investment also the interest rate.
Explain how global stratification impact local culture and expalin what are the positive does and the negative effects.
This assumption implies that armed conflict can be a necessary prelude to a negotiated settlement of a newly arisen dispute. What about breakdown of existing agreements to settle territorial disputes peacefully.
If, in addition, currency deposit ratio(c) is 0.05 and excess reserve ratio (e) is 0.15, what is money multiplier. Explain why money multiplier differs from simple deposit multiplier.
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