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A) Briefly explain the calculation of The Unemployment Rate for the U.S. economy. How is the data collected to compute the Unemployment rate?
B) Explain the difference between Frictional and Structural unemployment. Why do they exist, even at "Full Employment"?
C) What is the ultimate cause of severe inflation in an economy?
Industry structure is often measured through calculating the Four-Firm Concentration Ratio. Assume you've an industry with 20 firms and the CR is 30%. How would you describe this industry?
The value of good A goes up. As a result the demand for good B shifts to the left. From this we can infer that, Suppose that the current market value is below the market clearing level.
Starting in late 1970s and continuing through the 2000s, business environment moved toward relying less on government regulation and more on marketplace to get desired economic targets.
Compute the marginal rate of substitution of apples for bananas using the marginal utilities. Compute the value of the MRS at (2,4) and at (1, 16).
At present international management at PM corporation consists of one person. Determine what specific management principles and practices should PM firm start to put in place
How concerned should this company be about price discounts by itsleading competitors and conduct a t-test to check the statistical validity of the estimated equationat 95 percentconfidence.
Calculate the cross-price elasticity of demand and are the goods complements or substitutes
What is the approximate p-value of this hypothesis and find the confidence interval for the population mean
Require some good concepts on a solution to the following situations. How can we pay for this solution? Cuts in present programs or new taxes?
A poor person who has an income of $1,000 receives $100 worth of food stamps. Draw the budget constraint if the food stamp recipient can sell these coupons on the black market for less than their face value.
Perfect Competition is a model of which examples are few and far between. Yet economists love to discuss this model. Explain why.
Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement.
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