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Suppose you have estimated the supply curve for the local labor market as: Qs = W - 5, where W is the hourly wage and Qs is the quantity of workers willing to work at each wage. You have estimated the demand curve for the local labor market as: Qd, = 25 - W where W is the hourly wage and Qd is the quantity of workers demanded by employers at each wage.
If the government imposes a minimum wage of $18, what is the size of the labor force, the number of unemployed workers, and the unemployment rate?
Assume that a chair manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observed following levels of production corresponding to different numbers of workers:
Elucidate possible consequences of failing to properly disclose certain items in financial statements.
Many would consider the US Postal Service a publically good. Is this assumption valid.
Using diagrams for both industry and a representative firm, illustrate competitive long run equilibrium. Assuming constant costs, employ these diagrams to demonstrate
Suppose two equally risky shares, Hi and Lo. Hi shares pay a generous dividend and offer low expected capital gains. Lo shares pay low dividends and offer high expected capital gains.
Describe the extent to that you believe these three measures are related.
Compute the own price elasticity of demand at a price of $4. What is the inverse demand curve for the radio station
decisions how indusrtry make important decision with so much economical unrest.
An engineering student requires to replace the battery in her car so that she can drive home for a vacation after Spring Semester. She has located following possibilities:
Create a graph of that charts out the Federal Surpluses / Deficits and Real GDP in each year from 1965 to 2011. (Be careful with the Surplus / Deficit data, since there is an additional entry to account for a change in how the data ..
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
The Canadian economy is in long-run equilibrium. Assume the following events occur one at a time. Show the effect of each event on Aggregate Demand and Short-run Aggregate Supply in Canada by shifting only one curve.
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