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The number of employed is 136 million, the labor force is 148 million, the number of discouraged workers is 12 million and the number of underemployed workers is 9 million. How many people are unemployed according to the Burea of Labor Statistics? What is the unemployment rate according to the BLS?
Compare the effects of the two policies, based on the models developed. Why might the United States have preferred one policy over another.
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantages were used in your simulation.
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
What kinds of people are most likely to have their utility reduced by such a law. Why do you think that the government requires such insurance.
Does that face help explain why such governments would rather subsidize an industry’s export sales than its sales in the domestic market?
Explain why do we consider a business-cycle expansion different from long-run economic growth. Why do we care about the size of the long run growth rate of real GDP versus the size of the growth rate of the population.
A concrete and building materials company is trying to bring the company funded portion of its employee retirement fund into compliance with HB-301.
A price floor reduces the amount of a product that consumers buy because it keeps the price above the competitive equilibrium of market.
Derive the simple bid-rent function for a model with only firms. Illustrate what factors can cause the city to grow larger.
His parents claimed that hospital doctors administered excessive oxygen to the baby and that this caused the blindness.
Illustrate what is the GDP of George's and John's island in terms of clamshells.
Find the output levels where total product and average product are maximized. What is marginal product when total product is zero?
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