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In Avataria the main source of income is hunting. Avatarians have an option to improve their hunting skills by training with the best hunters. Assume the following table describes the returns from training in Avataria: Return per year of training First 5 years of training 20% Next 5 years of training 10% Next 5 years of training 5 %
(a) Assume an avatarian with no training can catch 1 turkey per month. How many turkeys per month can an avatarian with 5 years of training catch? With 8 years of training? With 10 years of training? With 15 years of training?(b) Assume there are 100 avatarians in the country. A half of them has 10 years of training, while the other half has 15 years of training. What is the total number of turkeys caught by avatarians per month? What share of these turkeys is caught as a result of "raw skills" and what share is caught because of human ("hunting") capital gained through training?
Should US laws be changed to need a shorter work week and longer vacation time.
What will be the effect of this change in policy on both the real and the nominal interest rate in the long - run?
Hurricane Katrina was a natural disaster that would have had an impact in the United State economy. What effect would Hurricane Katrina have on aggregate demand or aggregate supply, other things being steady?
Consider total cost and total revenue given in the table given below, Compute profit for each quantity. How much should the firm produce to maximize profit?
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Most households supplements their food budget by cultivating small vegetable gardens.explain how each of the following migth influence this kind.
The rate of return on common stock (Ke) is 13 percent. The industry has a constant growth rate (g) of 7 percent. Calculate the current price of the stock.
Compute the ideas of the Classical economists with the ideas of John Maynard Keynes, and explain what kind of revolution the Keynesian revolution was.
Determine your interpretation as to whether or not capital gains taxes should be increased or decreased? Should general income taxes be increased or decreased?
Illustrate which of the following statements are examples of positive economic analysis. Which are examples of normative analysis.
Assume that potential rural-urban migrant would work for two periods ( of some length) in either the rural or the urban area.
make sure to comprise explicit benefits that can be realized by consumers as a consequence of the enforcement of this legislation.
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