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A country with a civilian population of 100,000 (all over age 16) has 80,000 employed and 10,000 unemployed persons. Of the unemployed, 2,000 are frictionally unemployed and another 4,000 are structurally unemployed. On the basis of this data, answer the following questions:
a. What is the size of the labor force? _______
b. What is the unemployment rate? _______________________________
c. What is the natural rate of unemployment for this country? ____________________
d. Is this economy in recession or expansion? Explain.
Your firm spent $100 million developing a new drug. It has now been approved for sale, and each pill costs $1 to manufacture. Your market research suggests that the price elasticity of demand in the general public is -1.1. What price do you charge th..
Discuss how successful airlines control the use of discount fares by imposing and enforcing appropriate conditions on these fares, and how they utilize state-of-the art revenue management systems. Provide an example(s).
Suppose re are 300 of young in some period t. n, how many good are paid to government for tax in this period. In period t, how many good can each old person get and consume.
In this problem we will find the labor demand and labor supply for an economy, from there we will determine the equilibrium quantity of labor, and by plugging that into the production function we will find GDP. Consider a firm that operates in a perf..
What is the labor market classification of each of the following individuals? Be as specific as possible, and explain your answer. Julie has a graduate degree in mechanical engineering. She works full time mowing lawns. Jeff was laid off from his pre..
Many professionals believe it is impossible to regulate ethics. Yet, the SEC and other federal agencies provide rules, regulations, and laws surrounding corporate
below is a list of domestic output and national income figures for a given year. all figures are in billions. the
As a sample workforce activity, assume your employer has asked you to develop an economic analysis and a set of policy recommendations. To complete this activity, select a news article dated within the previous two months. Clearly summarize the issue..
World View: Paying to Pollute System Would Limit Emission, Allow Trading of Credits It costs nothing to pump greenhouse gases into the air. That is starting to change. Driven by fears of global warming, countries and states are trying to place a pric..
Describe absolute and comparative advantage. Explain the influences affecting foreign exchange rates.
Equilibrium quantity must increase when demand
An investment, which is worth 22,000 dollars and has an expected return of 15.75 percent, is expected to pay fixed annual cash flows for a given amount of time. The first annual cash flow is expected in 1 year from today and the last annual cash flow..
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