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Your grandfather's salary was $10,000 in 1967 and it was $40,000 in 1997. Assume the price index for 1967 was 100 and the price index for 1997 was 420. Calculate the real income for your grandfather in 1997.
Select one:
a. $9,524
b. $9,375
c. $40,000
d. $42,000
Consider the Cobb-Douglas production function. If the stock of labor in the economy increases while the stock of capital remains unchanged:
For what values of X do both ? rms have a dominant strategy? What is the Nash equilibrium (or equilibria) in this case?
Prepare a Three to Five page paper on an economic topic of your choice in which you will address a question or topic.
problem 1suppose that the firms markup over costs is 6 and the wage-setting equation is w p1 - u z where u is the
Is it possible that the levels of unemployment present day which are the result of government policies.
you are an economic consultant to a city that just imposed a payroll tax of 1 per hour of work. this payroll tax is
QuadPlex Cinema is the only movie theater in Idaho Falls. The nearest rival movie theater, the Cedar Bluff Twin, is 35 miles away in Pocatello. Thus QuadPlex Cinema possesses a degree of market power. Despite having market power, QuadPlex Cinema i..
Instaed of a minimum wage, suppose there is unemployment benefit that pays $50 per day. Workers are indifferent between earning a wage of $50 per day and remaining unemployed and collecting the benefit.
Some believe that the federal government has much influence on the country's economy when implementing fiscal and monetary policies. Do you agree that this is true? Why?
The country of Benin both grows and imports rice. If the government of Benin wants their rice farmers to earn more for their rice than the world price but does not want its consumers to pay more for the rice than the world price so as to keep the ..
1. why might the homo sapiens production possibilities curve have shifted outward to the right much more rapidly than
Explain the concept of externality. What does it have to do with the efficient allocation of resources?
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