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1. Suppose 500 people were surveyed, and of those 500, 450 were working full time. Of the 50 not working, 10 were full-time college students, 18 were retired, 5 were under 16 years of age, 7 had stopped looking for work because they believed there were no jobs for them, and 10 were actively looking for work.
a. How many of the 500 surveyed are in the labor force?
b. What is the unemployment rate among the 500 surveyed people?
2. Consider the following price information: Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of milk $1.00 $2.00
a. Based on the information given, what was the inflation rate between year 1 and year 2?
b. What happened to the price of coffee relative to that of milk between year 1 and year 2?
A charitable university benefactor has decided to donate a large amount of money for student scholarships.
In 1976 independent Texaco retailers file suit against Texaco. In 1990, the Supreme Court of the United States found that Texaco had indeed violated antitrust law. Illustrate which law do you think Texaco was found guilty of violating.
Assume that the market for salad dressing is in equilibrium. What will happen to the price of lettuce rises.
illustrate what feature of the value function explains the phenomenon, and how.
Calculate the expected utility of each project according to this criterion. (c) Is this individual risk adverse, risk neutral, or risk seeking?
Explain different conditions that can make aggregate supply curve shift to right. Explain how this shift on a graph. Illustrate what impact will shift have on equilibrium GDP.
Visit the Fed's Summary of Commentary on Current Economic Conditions, also known as the Beige Book. Prepare a proposal recommending monetary policy actions designed to correct problems with spending, employment, and prices. Defend your choices.
Assume re are three possible policies, X, Y and Z, person 1 prefers X to Y to Z and person 2 prefers Z to Y to X. Model this situation as an extensive game and find out its Nash equilibrium
what should you do when the manager of a perfectly competitive firm whose short run cost is TC = 100 + 160Q + 3Q2. If the market price is $196.
The market demand curve is given by P = 100 - 4Q. Also, each firm has constant marginal cost equal to 28. There are no fixed costs. How much output will each firm produce in the Cournot equilibrium?
Describe the best possible distribution channel for that product or service and why that particular channel would be better than any alternatives. Discuss the challenges you would face if you decided to market your product or service on a global ..
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
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