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(a) Among the four types of unemployment, identify the economically best type and explain why it’s the best.
(b) Identify the economically worst type of unemployment and explain why it’s the worst.
(c) What type of unemployment are workers least likely to experience after they have earned an MBA degree? Explain.
Consider an economy in which people wish to hold money balances worth a total of 5 million goods. They are indifferent between money issued by the central bank and money issued by private banks. Suppose the central bank pays no interest on its money ..
Lorelai purchases an inn in 2004 for $200,000. Today (2016) if she wants to operate it as a bed and breakfast she would have to pay her cook $25,000/year, her assistant manager $50,000/year, and $10,000 in electric bills. What are the economic costs ..
Make a price quantity chart for each consumer. Then add a column showing the total quantity demanded for a private good. Next show the quantity price chart showing the total demand for a public good.
When economists speak of "marginal," they mean. Managers undertake an investment only if. Total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units. Which of the following is true if marginal cost is constant?
Consider the production possibility frontier for a simple two-good (closed) economy. Quantities of good x produced are plotted on the horizontal axis. Quantities of good y produced are plotted on the vertical axis. Suppose that the production of both..
If an investment of $20,000 is worth $22,076 at the end of one year with quarterly compounding: What is the nominal interest rate per year(APR)? What is the effective interest rate per year (APY)?
Drug Testing-Third Party Beneficiaries: Bath Iron Works (BIW) offered a job to Thomas Devine, contingent on Devine's passing a drug test. The testing was conducted by NorDx, a subcontractor of Roche Biomedical Laboratories. When NorDx found that Devi..
When the price of a good decreases: A. demand increases. B. supply increases. C. the quantity demanded increases. D. the quantity supplied increases.
To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out ..
Manager of EPS find outs two output levels that appear to be optimal. Illustrate what are these levels of output and which one is actually optimal.
Use axiom of transitivity to prove that indifference curves cannot touch each other. Use axiom of non-satiation to prove that indifference curves will always be downward sloping and utility functions will always be upward sloping. Use the axiom of di..
Graph the following labor supply curves: The substitution effect dominates the income effect until the wage reaches $200, after which the income effect dominates. The income and substitution effects do not affect the worker’s decision. She wants to w..
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