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Suppose we wanted to know what the effect of extending the maximum number of weeks of unemployment insurance (UI) benefits was on the duration of unemployment. A researcher from a university in California suggests that more weeks of UI benefits leads to faster reemployment. His strategy was to compare unemployment durations in states with more weeks of UI benefits to durations in states with fewer weeks of UI benefits.
1) Why might this approach lead to the wrong answer? Another researcher suggests using a randomized control trial (i.e., experiment) to estimate the effect of the number of weeks of UI benefits.
2) List at least two weaknesses of this approach:
3) Suggest an alternative approach to estimating the effect of the number of weeks of UI benefits.
How should the manufacurer respond to this competitive threat? Suggest at least two alternatives.
In production theory, what distinguishes the short run from the long run? Can these periods be defined in terms of specific lengths of time? Why?
Find unemployment rate and show HOW:
Determine whether the following production function exhibits constant, increasing, or decreasing returns to scale
Illustrate what are the monopolist's profit-maximizing price and total output.
Propose two (2) methods in which organizations that provide the good may utilize this information. Provide a rationale for your response.
When a good is taxed, the tax revenue collected by the government equals the decrease in the welfare of buyers and sellers caused by the tax. As the size of a tax increases, the government's tax revenue rises then falls. Economists argue that restric..
Suppose the market for good X has a four-firm concentration ratio of 0.50. Furthermore, assume that total sales in the industry are $1.2 million. Based on this information, we know that sales for the largest four firms in the industry equal (in aggre..
In your textbook, there are three methods described that most Americans use to evaluate political developments such as ObamaCare. Using those three methods, describe how someone could come to the conclusion that he or she is against ObamaCare.
As Disney, Inc. was set to open the gates to its Hong Kong theme park, the company was broadsided by protests and calls for boycotts by environmental groups. Sparking the controversy was the pre-park opening release of its food menu, which included s..
Draw an indifference map for a typical person’s preferences over five-dollar bills and tendollar bills using the vertical axis for five-dollar bills and the horizontal axis for ten-dollar bills. What is the marginal rate of substitution (MRS)?
Explain the relationship between the effectiveness of monetary policy and the interest elasticity of investment. Will monetary policy be more or less effective the higher the interest elasticity of investment demand? Explain. Now explain the relation..
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