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What is the labor market classification of each of the following individuals? Be as specific as possible, and explain your answer.
a. Julie has a graduate degree in mechanical engineering. She works full time mowing lawns.
b. Jeff was laid off from his previous job. He would very much like to work at any job, but, after looking for a year, has stopped looking for work.
c. Lan is working 25 hours per week at a bookstore, and has no desire to work full time.
d. Raj has decided to take a year off from work to stay home with his daughter.
Consider the following model of international migration. The potential migrants originate in country 0, the source country. Worker 1 has 1 efficiency unit of skill, worker 2 has 2 efficiency units of skill, and worker 3 has 3 efficiency units of skil..
Free trade will affect a country's employment in different industries. When one individual writes a check to another individual the money supply will not be changed. A bank's required reserves are the fraction of deposits they are required by law to ..
why do points on a utility possibility curve represent efficient allocations of resources? why must the utility
The short-run production function is specified as follows: Q=F(K,L) but in reality they should be specified as: Q=F(K,L). Discuss and reconcile the abore specification?
The price elasticity of demand is a measure of how much more (or less) a consumer buys when the price of a product changes. This measurement is critical for managers to understand before deciding to change prices. Name two goods where your cross-pric..
If you were a strong supporter of free trade and in charge of U.S. international trade policy, would you cut tariffs and quotas, or would you negotiate with the nation's trading partners, maintaining trade barriers unless they lowered theirs also? Di..
In which of the following cases should the United States produce more noodles than it wants for its own use and trade some of those noodles to Italy in exchange for wine.
Elucidate why the equilibria found in part (a) are only short-run equilibria. What will happen in the long run.
Use scholarly sources to support the current debate between the White House and Congress regarding what measures are necessary to address spending and revenues (e.g., news reports, official statements, press conferences, as well as numerous governmen..
A seafood restaurant in a beach resort town has a fixed (unavoidable) cost of $1,000 per month and variable (avoidable) costs of another $1,000 per month.
Consider a shrimp restaurant at Fisherman’s Wharf in San Fransisco. The chef at the restaurant chooses whether to use farm-raised or wild-caught shrimp to produce the main dish – shrimp balls. Draw the ten shrimp ball isoquant curve. Add to this gr..
Consider the following two proposals to reform unemployment insurance. Explain the arguments for and against each reform. The insurance payment would be increased so that it replaced 100% of a worker's regular labor income for 26 weeks.
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