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Consider an economy that initially has a labor force of 2000 workers. Of these workers, 1900 are employed and each works 40 hours per week. Ten units of output are produced by each hour of labor.
The economy enters a recession. Employment falls by 4% and thenumber of hours per week worked by each employed worker falls by 2.5%. Inaddition 0.2% of the labor force becomes discouraged at theprospect of finding a job and leaves the labor force. Finally, suppose that whenever total hours fall by 1%, total output falls by 1.4%. During the recession, what is the size of the labor force? How many workers areunemployed and what is the unemployment rate? What is the total output per week in the economy? What is the labor productivity per hour?What is the labor productivity per worker in a week?
A firm wants to lease some land from you for 20 years and build a warehouse on it. As your payment for the lease, you will own the warehouse at the end of the 20 years. If the salvage value is estimated to be worth $20,000
If the MARR is 15% per year and the analysis period is 12 years, use the Present Worth method to determine which alternatives are economically acceptable and which one should be selected. If the total capital investment budget available is $200,00..
Suppose that an investor has a choice between buying this security or purchasing a different security that also costs $3,000 today but pays off $3,300 with certainty in one year. How is an investor's choice of which security to purchase related to..
Assuming no chnage in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply
At the equilibrium interest rate, what are the quantity of money supplied, the total quantity of money demanded, the amount of money demanded for transactions, and the amount of money demanded as an asset
The purchase price for the diesel is $97,995, the engine size is 300 hp, the average speed is 21.4, the fuel consumption is 17 gallons per hour and fuel capacity is 300 gallons. Insurance premiums are $500 more per year for gasoline powered boats.
With the machine adequately maintained, its production rate will remain constant for the first 1,200 hours of operation and then decrease by 2 feet per hour for each additional 400hours thereafter. the expected average annual use is 400 hours
What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output Q1 level is being produced How large is the dollar value of the consumer surplus at that output Q1 level
The heat loss through the exterior walls of a certain poultry processing plant is estimated to cost the owner $3,000 next year. A salesman from Superfiber Insulation, Inc., has told you, the plant engineer, that he can reduce the heat loss by 80% ..
an alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years.
Studies indicate that the price elasticity of demand for cigarettes is about -0.4.If a pack of cigarettes currently costs $2.0 and the government wants to reduce smoking by 20%, by how much should it increase the price
Do you agree or disagree with the statement that: "A monopolist always changes the highest possible price Why can't an individual from a firm raise it's price by reducing output or lower its price to increase sales volume in a purely competive mar..
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