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work decisions are based upon a comparison of priviate cost and the private benefit. The excludedable benefit of addtional work is measurable as the change in what? (options - income less transfer payments lost, gross income, net tax payments, adjusted gross income, disposable income?)
The market is perfectly competitive with constant input prices, and each company has the same cost structure, described through the following table:
Illustrtae what situation in which both parties entering into a contract could benefit from slightly ambiguous language contained in the contract.
What implicit weight is placed on the inflation target under this rule? Discuss. Draw an IS-MP diagram but instead of the usual MP curve, graph the monetary policy rule.
Estimate the own price-elasticity of demand.
What is each orchard's labor demand as a function of the daily wage W? What is the market's labor demand? Ectenia has 200 workers who supply their labor inelastically. Solve for the wage W. How many workers does each orchard hire? How much profit ..
Explain the influence that transferable property rights versus non-transferable property rights, has on individual decision making.
Assume government imposed a minimum wage above what otherwise would be equilibrium wage rate for the segment of labor market.
Elucidate the increasing returns to scale as a basis for international trade. Be sure that you define the relevant concepts, describe important features of such trade, and contrast these features with those of trade due to other causes.
Explain how useful is this demand equation for forecasting demand for the pill slicer in the next five years
social problem where free marketplace are not allowed to function and describe how free market features could be introduced to help alleviate the problem.
Suppose the government cuts its purchases by $120 billion. As a result, budget deficit is reduced by $40 billion, private domestic decreases by $10 billion,
Economists agree that an economy cannot increase without savings. This means forgoing current consumption, saving, and investing in capital goods.
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