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The salmon fishery in Alaska's Bristol Bay has historically been one of the world's richest. Over the past few years, poor returns of salmon to the bay and competition from farm-raised salmon have reduced the economic returns to the fishermen. One response to lower revenues has been for fishermen to use family members instead of hiring crew "in order to reduce their costs." Evaluate this business strategy. Will employing relatives really keep profits from falling? Under what conditions is this a good strategy?
A spike in the unemployment rate-the biggest in more than 2 decades-raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing & credit markets are leading the US economy in to a painful recession.
Sonic Boom Corporation sells drum sets. At a price of $600 per set, they sold about 500 sets per month. The new general manager for this product, Eli Sticity, decided that the company needed more revenues and increased the price to $700 per set.
Seven years ago a vertical drill was purchased for $10,000. Drill had 12 years of expected life and zero estimated value at the end of that period. The current market value of the drill is $1,000. The new drill's total investment cost would be $12..
Why are points on the aggregate expenditures schedule below the 45-degree line not sustainable?
In what ways would you have expected these events to influence the U.S. economy? How might the spending of Asians on American goods be affected? What about Americans who have invested in these countries?
Suppose that the w=1, r=4 and the production function is given by: Q = K1/3L2/3. This means that the . Suppose that the w=1, r=4 and the production function is given by: Q = K1/3L2/3. This means that the marginal product of labor
The following table gives average hourly nominal wages in nonagricultural industries and the price level in the United States from 1995 to 2002.
Identify the equilibrium point and price level. Illustrate how fiscal policy can close the contractionary gap.
Why might we expect a teacher on a fixed annual salary to respond differently to a cut in the rate of income tax compared with a bricklayer paid according to the number of bricks laid?
Now, suppose the output quantity of interest is Vout. Assuming RF is very large, compute the closed-loop gain and I/O impedances of the circuit.
Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfares are $600, but you have a frequent-flyer coupon worth $500 that you co..
Be sure to provide support for your answer, including at least one example of how the principle is currently reflected in U.S. society.
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