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Which of the following is true about labor union effects on labor markets?
A: The higher wages in the union sector tend to elevate wages indirectly across all sectors of the labor market
B: Union labor tends to be less productive because the union protects its workers from discipline or firing
C: Approximately 90% of the wage difference between union and nonunion workers is due to the higher quality of union workers
D: Labor unions have no documented impacts on labor markets because they are subject to the same labor market forces that other firms face
1) Why is it possible to change real economic factors in the short run simply by printing and distributing more money? 2) Explain why a stable 5% inflation rate can be preferable to one that averages 4% but varies between 1-7% regularly.
Suppose we are with a real estate agency that has the following houses listed in a specific geographic area. $150,000; $146,000; $152,000; $155,000; $143,000; $157,000; $180,000; $148,000; $154,000; $146,000; $155,000
For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annually, compounded monthly?
Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economys cow population.
Explain how each of the following events will affect the budget line. (use a graph too if you think it will help)
A steel producer has the production function q=10K^0.75 E^0.25 where q is the quantity of steel, in metric tons, K is the firm's capital stock, and E is the number of labor hours it employs (measured in thousands). a) Assume the firm's current capita..
Suppose the employees of Starbucks in China are paid 8 Yuan per hour and a cup of coffee is priced at 8 Yuan. If Starbucks is maximising its profit, a what is the value of marginal product of labour (VMPL) per hour of the last worker employed by Star..
If it cost Wardco $10million to treat the water and the value of mined products to customers is $8million, requiring water treatment would kill the project. Should Wardco be required to treat the water in this case?
Explain when a researcher is trying to estimate the causal effect of X on Y, and finds that the R^2 of her bivariate regression model is around 0.04.
If the economy was experiencing a severe recession, which of the following combinations of monetary and fiscal policy actions would be most appropriate?
Given the optimal output in c, Elucidate how much profit (or loss) can the manager of Ever Klein Pool Services expect to earn?
How do the demographic trends of two prominent East Asian countries, China and Japan, compare and contrast? What are some of the impacts of these trends, and what unique challenges does each country face as a result? How has the government for these ..
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