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A market basket is made up of three goods, 10X, 12Y, and 18Z. The prices in the base year are $1.20, $2.10, and $3.25, respectively. The prices in the current year are $1.44, $2.23, and $3.88. What is the approximate consumer price index in the current year?
A monopolist like Spago (a famous Hollywood restaurant frequented by movie stars) can fully pass on all the marginal cost increases to its diners through higher prices since it is a price maker and can charge any price it wishes. True, False, or Unce..
Find out QD and QS when cost of good X is $12.00. Is re a surplus or shortage. Illustrate what should happen to cost of Good X to drive it to Equilibrium.
Suppose you have just bought a new house and are considering the installation of 10 compact fluorescent bulb (CFB) fixtures instead of 10 conventional incandescent lighting fixtures (Which cost a total of $550) typically installed by the builder.
What is the average inflation rate. Explain how would inflation be different if real income growth were higher.
What are efficiency, producer surplus, worker surplus, and total gains from trade? Why would we expect regional wage levels to converge? What happens to total gains from trade as regional wages converge? How do payroll taxes affect labor markets (i.e..
Can an individual be both pro-union and pro-employer, or does being pro-union mean one has to be anti-employer? Can an individual be anti-union and still legitimately claim to support pro-employee interests?
Does built in stability mean assume that non-discretionary changes will take place automatically, provide tax rates and systems in a place.
tate in words and show with a graph the effect of the following events on equilibrium price and quantity of the market given. Assume you live in an economy that has a population of 2,000,000 people over the age of 16. The labor force in your economy ..
What are the components of the Affordable Care Act? What improvements have the Affordable Care act made to the United States Healthcare delivery system? What are some examples of how new legislation will affect the problems associated with cost, acce..
What may account for the difference in the wages between two industries that have been highly competitive? Identify and describe each factor and explain its effect on wages. If you make any assumptions about the scenario, state them.
Explain the practical effect of price controls on product and service availability, quality and true cost. What is the full impact of rent controls? On whose behalf are they imposed? Who are the winners and who are the losers? What is the impact of p..
Where Q is the production and V is the number of employees working 8 hours a day
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