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Question 1: As we discussed in class, in addition to calculating the official unemployment rate (U3), BLS produces alternative measures of labor underutilization (U4, U5, and U6). Please explain the difference between U3 and U6, and why U6 might be more informative about the state of the labor market during recessions.
Question 2: It is not uncommon during economic recoveries-the time period after recessions end and the economy is healing-for the unemployment rate to rise at the same time that the number of employed individuals rises. Explain how this can happen, and explain why when this happens, it is reasonable to think of this phenomenon as one indicator of economic recovery.
Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity. Identify the determinant of demand or supply that causes the shift.
Consider only stage 2. Suppose N firms entered this market. Find a symmetric Nash equilibrium among the N firms that entered.
Creek side Consulting and Construction (CCC) is considering the purchase of a minicomputer that costs $45,000. The estimated salvage value for the computer.
Identify its growth in output per capita and in population growth - Is it an open or closed economy?
assume that in short-run equilibrium a particular monopolistically competitive firm charges 12 for each unit of its
Delineate the differences between the terms persuasion, manipulation and seduction as they relate to human communication.
The Automotive Supply Company has a small plant that produces speedometers exclusively. Its annual fixed costs are $30,000, and its variable costs are $10/unit. It can sell a speedometer for $25.How many speedometers must the company sell to break..
Which of the following is viewed as a fundamental building block of the U.S. economic way of thinking?
In the market for a good the quantity supplied (QS) and the quantity demanded (QD) are given by QS = P - 30 and QD = 240 - 2P where P = price in dollars.
What can you deduce about the relationship between economic freedom and the size of government in a country?
Was there a redundancy of information in part (b)? If yes, how much is the minimum amount of information required in that question to derive the utility function?
When average household income is $31,000, 380 containers of hazelnut chocolate spread are sold and 220 jars of wild flower honey are sold.
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