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In a country with a labor force of 200 people, a different group of 10 people becomes unemployed each month but becomes employed once again a month later. No others outside these groups are unemployed.
A. What is the country’s unemployment rate?
B. What is the average duration of unemployment?
Calculate consumer surplus in the case of entry deterrence and in the case of entry accommodation. Which situation leads to the largest consumer surplus?
Even though this chapter is all about the classical explanation of business cycles, this innovation in economic theory is thanks to the ideas of John Maynard Keynes. That's why we call it a "Keynesian" supply curve
What would be the long run price and quantity for this firm in a competitive market? 2. In the long run how many firms are in the industry?
Some argue that retailers can be eliminated from the distribution channel because they only add costs to the final product without creating any value-added services in the process. Do you agree with this perspective?
Over the business cycle, real GDP tends to increase during the expansion and decrease during the contraction. Can you name some other macro variables that fluctuate over the business cycle like GDP does?
Derive the mathematical expressions and determine the level of output where the average cost function reaches a minimum (the firmís capacity).
(a) an increase in the price of a gross substitute for labor, (b) a decrease in the price of a pure complement in production with labor, (c) a decrease in the demand for the product that the labor helps produce.
suppose that france and austrailia both produce fish and wine.frances oppurtunity cost of proucing a bottle of wine is
According to an article in Business Week Online, the company is not only the world's largest shipbuilder but also manufactures other industrial goods ranging from construction equipment and marine engines to building power points and oil refinerie..
the elected officials in a west coast university are concerned about the explosive rents being charged to college
When Burton Denson graduated with honors from the American Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truckers that his revenues were typically $25,000 per month
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