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Fred is evaluating whether a more efficient motor with a life of 5 years should be installed on an assembly line. Energy savings are estimated at $400 for the first year, then increasing by 6% annually. If the interest rate is 10%, what is the present value of the energy savings?
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
Briefly list and describe each of the four types of unemployment. Which type of unemployment may be detrimental the formation of agglomeration economies and why?
The Employment and Training Administration reported that the U.S. mean unemployment insurance benefit was $238 per week. A researcher in the state of Virginia anticipated that sample data would show evidence that the mean weekly unemployment insuranc..
Skectch the fundamental analysis of the supply and demand curve for the British pound in terms of dollars. (The quantity of pounds on the horizontal axis and the US dollars per pound on the vertical axis.
For utility maximization, consumers will purchase different consumption bundles until their marginal utility per dollar are equal.
Assume that you have a company and need to evaluate two alternatives, an automatic machine (AM) and a manual machine (MM). Capital investment for these AM and MM are $23,000 and $8,000, respectively. If we assume that MARR is 10% yearly for AM and MM..
In developing a vaccine for the SARS virus a pharmaceutical company incurs a very high fixed cost. The marginal cost of delivering the vaccine to patients, however, is negligible (consider it to be equal to zero).
Define the term “institution.” Now, use your definition of this term ,and discuss why the authors of the texts used in this course consider institutions so critical to the the task of closing the gap between rich and poor countries.
Draw Lorenz curves and calculate the Gini coefficient and the coefficient of variation for the income distributions (a)–(f). In each situation, the first set of numbers represents the various incomes, whereas the second set of numbers represents the ..
By how much would the quantity of labor demanded decreased if a minimum wage hike raised prevailing wages from $8 to $10 an hour and if the elasticity of labor demand were 0.10? Write the answer in percentage form.
One solution to the problem of gender imbalances in top careers is affirmative action give women extra consideration for top jobs, or equivalently penalize men. Explain the efficiency argument for doing this.
Assume the money supply is $800, the velocity of money is 7, and the price level is $2. Using the quantity theory of money: Determine the level of real output. Determine the level of nominal output.
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