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Which type of unemployment would be affected with the following changes? Would it go up or down? a. increased unemployment benefits b. heavy snowfall in Minnesota c. online job search becomes more effective d. a large, permanent decrease in the demand for coal e. more people have been retrained to develop new skills f. there is a sharp fall in demand for goods and services in the economy
Suppose that a producer raises the price of a good from $8 to $15, and the quantity sold drops from 250 to 40 units. Is the demand for the good is elastic or inelastic?
There were 13,249 weddings in Springs City last year. According to state records, notaries public performed 17% of the weddings. How many weddings were not performed by notaries public?
The oil price shock embodied an inflation rise of 3 percentage points and inflation turned out to be 1.5%. What effect did the financial crisis have on the unemployment rate?
How is power distributed in the U.S. political system? How does the U.S. political system reflect the distribution of power? List and discuss six ways in which urban planning can be political in nature. With references.
A firm’s total cost function is TC = 2q^2 + 5q + 10 . The firm is a price taker and the market price for its product is $25. The firm also receives a subsidy from the government because it is operating in a high tech industry and the government encou..
Elle's preferences over apples (A) and bananas (B) are represented by the Cobb-Douglas utility function; u(A; B) = AB. Write down the optimization problem. What is the objective function? What are the choice variables? What is the constraint? What a..
You borrowed $150,000 with a 30-years payback term and a variable APR that starts at 9% and can be changed every five years. What is the initial monthly payment? If, at the end of the five years, the lender’s interest rate changes to 9.75% APR, what ..
Would you continue to work after winning a lottery prize of $50,000 a year for life? Would you change schools, jobs, or career objectives? What factors besides income influence work decisions?
Explain at the current price, eight units are demanded each period. If the objective is to increase total revenue, should the price be increased or decreased.
The shape of the long-run cost curve is determined by economies and diseconomies of scale. Contrast this curve with the short-run cost curve as it relates to increasing and diminishing marginal returns to labor.
During the past decade, India has invested about 22% of its GDP while China's investment rate has been double than that of India's, India's annual growth rate has been about 6 while that of China has been about 9%. Based on the Harrod-Domar Growth mo..
Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic? Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic?
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