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What does a contractionary gap imply about the actual rate of unemployment relative to the natural rate? What does it imply about the actual price level relative to the expected price level? What must happen to real and nominal wages in order to close a contractionary gap?
Determine absolute advantage and comparative advantage and explain why will resources specialize according to their comparative advantages?
What would be your subsequent steps? Make sure you include both the positive and negative effects of your actions making sure you include the trade-offs or opportunity costs.
What is the current minimum wage in the U.S - what is the minimum wage for workers who receive tips and what is the current minimum wage for the state that you live in
Assume you are a business person with an opportunity to make more money by meeting with competitors and fixing prices, conduct which is illegal. The authorities will not discover that the prices have been fixed. In fact, the price rise could be sm..
Describe how a correctional officer's pay is determined and how the salary is structured. Discuss what your chosen state can do to increase the supply of correctional officers.
Use the above data to answer the following questions-If the price of entertainment increases by 2 percent, what will happen to the quantity of food demanded? Please be specific
When economists with different political views do cost or profit comparisons, they often reach different decisions. If their analysis is based on objective costs and valid techniques, why would not they reach similar decisions,
Assume that initially the price is $50 in a perfectly competitive market. Company are making zero economic profits.
A perfectly competitive firm should hire an additional worker only if the employee 's marginal revenue product is less than the wage rate.
Elucidate the pressures that increasing German interest rates put on the other European Union (EU) countries' currencies.
A current account deficit is a very healthy thing. If we can get foreigners to give us real goods and services and talk them into taking pieces of paper in return, why should we want anything different?" Do you agree or disagree with this statemen..
Explain why is an increase in the number of varieties of a good regarded as a gain from trade. Can you think of economic disadvantages associated with greater product variety.
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