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Question1. Productivity often increase during economic expansions and decreasing during economic recessions. Can you think of reasons why? Briefly explain. (Hint:Remember that the level of productivity involves both levels of output and levels of labor input.)
Question2. Use the following information to compute [A] the size of the labor force and [B] the official unemployment rate: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs,10.
Question3. Describe how an increase in your nominal income and a decrease in your real income might occur simultaneously. Who loses from inflation? Who loses from unemployment? If you had to choose between [A] full employment with 6 percent yearly rate of inflation and [B] price stability with an 8 percent unemployment rate, which would you choose? Why?
Determine the four phases of the business cycle? How long do business cycles last and how do seasonal variations and long-run trends complicate measurement of businrss cycle?
What do you think the increase in productivity is likely to move the economy closer to full-employment or farther away.
Suppose if the table shows the demand faced by a monopoly firm then what is that firms marginal revenues
Elucidate the difference among the consumption of a free good and a good that is not free.
Illustratr what is the Keynesian solution to a recession or depression. Explain how does the Keynesian multiplier work.
Compare and contrast between the economic effects of increasing spending versus reducing taxes.
Compute the value of the price index for GDP for 2006 using 2005 as the base year. By what percent did prices increase.
Given major housing boom that contributed to economic growth in the United State from 2003 through 2008, some of revenues that local governments received were from development impact fee.
Explain why does a production possibilities curve bow out rather than forming a straight line sloping downward from left to right.
Elucidate the effectiveness of these staffing practices and selection tools in meeting current and future employment needs of the organization.
Elucidate marginal prices do Universities incur by offering more than one of the same classes
how to calculate the slope then the intercept. With slope and intercept information supply and demand can be written in the familar.
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