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Part-1
What is the official poverty line?
Is the number of people higher or lower than it was last year? Ten years ago? Why?
How many states had an increase in the poverty rate compared to last year? Why did this happen?
What new programs have been initiated to combat poverty at the state or federal levels?
Part-2
Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor. Use the readings and/or the Internet for examples.
Immigration is a major topic of concern in today's economy. What are the possible problems and solutions for these concerns? What could happen to the U.S. labor markets if immigration is not controlled?
Assume that the Keynesian short run aggregate supply curve is applicable to a country's economy. Construct appropriate diagrams to assist in answering the following questions:
M is the monopolist selling goods G. M's cost function is c(y)=4y where y is total production of G. Some of M's potential customers are members and get the member magazine with coupons.
How does the article support the Simple Circular Flow model and how does the article support the Law of Supply and Demand?
what advice would you give as the economic analysis team and Your client states that it is worth $4,000 annually to be his own boss and not be a butcher any more. Would that change your advice? How and why?
Construct a scatter graph showing the advertising and sales relationship over the last twelve months and using multiple regression, conduct an analysis of the firm's sales revenue, consumer incomes, and advertising.
Despite strong sales and a low marginal cost of producing the product, your company has yet to show a profit from selling the drug.
A new competitor enters the industry and competes with a second firm, which had been a monopolist. The second firm finds that although demand is not perfectly elastic, it is now relatively more elastic.
Why does the burden of sales tax fall completely on customer when the value elasticity of demand is perfectly inelastic; the seller when perfectly elastic.
Estimate the linear model described in part (a) using Ordinary Least Squares regression and display your regression results.
Evaulate the price elasticity of demand for subway rides. The subway fare in your town has just been increased from the current level of 50 cents to $1.00 per ride.
A television station is planning the sale of promotional DVDs. It can have DVDs manufactured by one of two suppliers. Supplier A will charge the station a set-up fees of $1,200 plus $2 for each DVD.
Describe the process by which the competitive market establishes a price at which all firms are just earning normal profits.
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