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Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the price and quanity of minivans.
Consider an exchange economy with two goods, 1 and 2, and two consumers, A and B. The consumers are initially endowed with a total of unit of each good, i.e. w1 = w1A + w1B = 1 and w2 = w1B + w2B = 1.
Sprint acted as a well-managed business that takes the actions necessary to remain competitive in a very competitive marketplace.
What is the productivity growth in this economy? If you had lacked information on growth in the quality of the labor force, and you had therefore assumed that labor quality was not changing (i.e., that h'= 0.0), how would your answer to part (c) ha..
Explain are there any present events in the news that you can directly link to concepts or theories covered so far.
When 50 employees are used, the average product of labor is 50 and the marginal product of 50th worker is 75.
Campus Print Shop is assume of purchasing a new, modern copier that automatically collates pages. The machine would cost $22,000 cash.
In a speech, Professor Gregory Mankiw contends that our elected federal leaders should raise the gasoline tax. Not quickly, but substantially.
Assume that the Fed unexpectedly raise the rate of money growth.
At level of inflation explain how long does it take for the price level to double.
Technological advance, that date has played a relatively small role in U.S. economic growth.
You need $50,000 cash throughout year. Your time is worth $100 per hour and it takes you a half-hour to get cash from your ATM. Your bank is paying 5% per annum passbook savings.
Several believe that wage inequality in the United States will generate shifts in labor markets such that gap between most highly skilled in the population and least skilled will start to fall in the near future.
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