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price floor. There is considerable interest in whether the minimum wage rate contributes to teenage unemployment. draw a demand and supply diagram for the unskilled labor market, and discuss the effects of minimum wage. Who is helped and who is hurt by the minimum wage
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and P x = $5, P y = $10, X = 20, and M = 500?
A country has the per-worker production function, y=5k1/2, where y is the output per worker and k is the capital- labor ratio. The depreciation rate is 0.15 and the population growth rate is 0.05. The saving function s=0.2Y where s is total nation..
Some games of strategy are co-operative. One example is deciding which side of road to drive on. It does not matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
A local hardware store is trying to decide whether to stay open. They have found that their industry is extremely competitive and profits have shrunk considerably. Knowing that you have taken an economics course the owners have asked for your opin..
We now incur shocks as provided in red font. Solve for a new expression of the consumption function and aggregate expenditure curve, solve for the new equilibrium output and add this new equilibrium point to both of your diagrams (label as point B..
Illustrate and discuss the questions that emerged from Walras research strategy.
Illustrate what price per ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs.
Illustrate what are some obstacles to successful international economic policy coordination in terms of current global economic and political policies and their impact on business decisions.
Elucidate are the characteristics of the market for lemons.
what are the implications for economic growth and development for these nations.
Assume initially that the exchange rate is $2 per pound, and a particular car sells for $20,000 in New York and 10,000 pounds in London. Create new prices and a new exchange rate that will yield PPP.
The company has already spent $150,000 on research and development for the drug. The first round of clinical trials has been performed cost $75,000 and the results from the trials were promising. The company is considering whether to proceed with ..
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