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1. Why do garbage collectors make more than furniture movers?
2. What are union wages? Why are some employers willing to pay them?
3. Maria is a hostess at a local restaurant. When she earned $8 per hour, she worked 35 hours per week. When her wage increased to $10 per hour, she decided to work 40 hours. However, when her wage increased again to $12 per hour, she decided to cut back to 37 hours per week. Draw Maria's supply curve. How would you explain her actions to someone who is unfamiliar with economics?
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..
If this really were the LM curve that we thought best characterized the economy, would we lean toward the use of fiscal policy or monetary policy? (You may assume your goal is to affect output.)
If the quantity of money rose 10%, velocity was unchanged, and output rose 6%, what would be the inflation rate, according to the equation of exchange? Equation given: (Quantity of Money) * (It's velocity) = (Price level) * (Output) or ((QM) * V ..
Suppose that the eye doctor offers senior residents a discounted price for an eye exam. The demand function for senior residents is Qs = 50 - Ps, and the demand function for the general public is Qg = 60 - Pg. The marginal cost for an eye exam is ..
Explain, being careful to state the time horizon to which your answer applies.
The price of electricity for an average household has increased by 50 percent.
Draw supply and demand diagrams from two different markets, and label the markets A and B. Then use your diagrams to illustrate the impact of the following events. In each case, determine what happens to price and quantity in each market.
Illustrate, graphically, the effects of a fiscal expansion when capital is mobile and both prices and exchange rates are fixed. Over what horizon is the assumption of fixed prices a valid one? Explain.
buy a computer for $2,500 now, keep it for 8 years and then sell it for $800. The computer is not expected to require any maintenance for the first 3 years, but starting in year 4, the maintenance cost will be $250 per year. Alternatively, you can..
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
Starting salaries of economics majors have a mean of $47,000/year with a standard deviation of $8,000. What is the probability that a random sample of 100 majors will have an average salary of more than $50,000 year
Describe three new training methods and explain which one of these methods you selected for this Customer Service training program and why.
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