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Suppose that the foreign worker ($100) makes 1/3 the wage of the US worker ($300). However, suppose that the US worker is four times more productive than the foreign worker. Who should we hire? So the US worker would cost $300. To get the same amount of output from the foreign workers, we would need to hire four of them ($400). Thus, it is better to hire the more expensive US worker, because the US worker isn't really more expensive when we compare the cost to the output. So one way the foreign workers can get the job is to lower their wages even more. And if they do that, then the US worker could raise his productivity to get the job.
1. On the graph below, draw the budget line associated with each of the following prices of goods X and Y and income levels:
Do these data indicate that the population mean percentage increase in corporate revenue is greater than the population mean percentage increase in CEO salary?
q1. a growth at a rate of 2.5 may seem slow but this means a country gdp will double within 28 years. 100 10.02528 200
Over the past year, Barned and Noble shifted production of their Nook electronic book reader to Samsung, which allowed B&N to cut cost by focusing on the Production of digital content like e-books. Please use the Porter’s Five Forces to analyze the p..
Explain demand schedule and demand curve, and how they are related? Why does the demand curve slope downward?
Demand for phones at an on-line retailer is 5,000 per month. The annual inventory carrying rate for the retailer is 25 percent, and the retailer incurs a fixed order cost of $15,000 for each order placed with the supplier in Taiwan. How many phones s..
The Federal Reserve cut interest rates dramatically in 2008 in response to the worsening credit crisis. Many emerging market countries were pegged to the dollar at this time. What happened during this period to the emerging economies of countries (mo..
Do you think that international migrants self-select in a way that results in migrants having, on average, different personal characteristics than people who do not migrate? Why and what consequences would such differences or similarities have on the..
If lots of people want Euros also Euros are in short supply also a few people want Japanese yen also yen are in plentiful supply the euro is likely to.
This question focuses on an oligopoly and its reliance on economies of scale.
Do regional trade agreements promote free trade or do they just create another kind of trade barrier? Explain your answer. Why does the WTO permit regional trade agreements when they violate the "most favored nation" principle? Explain your answer. D..
Look at those whose advertising went down by double digits from the prior year. Speculate about what might have caused those advertisers' expenditures to decline.
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