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The government of a particular small country is facing a huge unemployment crisis. Government officials had just reported that the labor force participation rate was at an all time low of 60%. The number of people without jobs who had stopped looking for one, believing that there were no jobs out there for them, was about 80,000, which represented a fifth of those not in the labor force. Further, the number of people with jobs throughout the economy only totaled 450,000. What is this country's unemployment rate?
a nation's rate in 2003 was 5%. It accumulated capital at a rate of 5% and added to its employment of labor at a rate of 5%. The proportionate increase in real GDP in response to a proportionate increase in capital was 0.2, and the proportionate r..
You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation If both of you work hard, you both get an A, ..
The cost, demand and revenue functions have been determined By Delta and given below. The total amount of widgets sold in the market by all producers, including Delta's sales, is 238 units. Delta's current p..
Consider the same two firms as above with marginal costs 10 and 40, facing a demand p = 100 - q. a. Find the market price and quantities produced if firm 1 moved first, followed by firm 2 b. Find the market price and quantities produced if..
Suppose that you are hired as consultant to a firm producing a therapeutic drug protected by a patent that gives a firm a monopoly in two markets. The drug can be transported between the two markets at no cost. The demand schedule in the first mar..
If a random variable X is distributed chi square with n degrees of freedom then the expected value of X is n. Show that this is true.
Setup a two-variable regression model (i.e. write down the PRF) to examine the impact of per capita disposable income on real per capita gasoline expenditures.
When a recession is over, do people start to immediately feel affects of an efficient economy? Use the experience of most recent recession to justify your answer.
When the government imposes a price floor = $20, disequilibrium between quantity demanded and quantity supplied results in. Consider a market where demand is D: P = 30 - Q and supply is S: P = 0.5Q. 1. Equilibrium quantity Qe is
Compute the elasticity for each variable and briefly comment on what that data gives you in each case.
In your 1st position as a Finance manager you have been given responsibility for decreasing use of residential heating fuel in state. Choose one of three legislative proposals to accomplish this target
Choose two firms from different industrial sectors, e.g. high tech computers, health, customer non durables, cyclical etc.
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