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In 2001, Puerto Rico enacted a law that requires specific labels on cement sold in Puerto Rico and imposes fines for any violations of these requirements. The law prohibits the sal
Describe the differences between the substitution effect of a wage increase and the income effect of a wage increase.
dynamic multipier
Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located. a. at the top corner of the
What is Supply-side Economics Market Freedom? Markets must be allowed to work more freely and steps taken to improve this efficiency by: freeing them from governm
Q. Define the Real wage? Consider the following scenario. You work full time and during January 2008 you make 2000 euro after tax. A certain basket of goods and services costs
If taxes and government expenditures were constant and did not vary with income, then: A. passive deficits would increase. B. structural deficits would increase. C. passive deficit
short notes on absolute advantage
Analyze how a model of the labor market can be used to explain wage and employment for healthcare workers.
What is productivity? Productivity or average product (AP): It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can
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