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The ABS reported that in September 2007, a cycle peak, the working-age population was 16,808,200, the labour force was 10,979,300, and employment was 10,514,600. Calculate for that quarter the labour force participation rate and the unemployment rate.
Consider a monopoly that has a demand curve that is a straight line that intersects the vertical axis at a price of $12 and has a slope of -2. The marginal revenue curve for this firm will have a slope of:
What is the p-value? What other assumptions are necessary?
A profit-maximizing monopolist produces integrated circuits for computers using a single variable input labor. The demand function for the monopolist has been estimated as: What is the marginal cost function? What is the profit-maximizing (or loss-mi..
The Fair Labor Standards Act, enacted in 1938, requires that firms pay "double time", which is 200% of the regular wage rate, for overtime work. This question asks you to consider some of the incentive effects of overtime pay. When faced with the bud..
The time it takes to process phone orders in a small gift shop is normally distributed with a mean of 6 minutes and a standard deviation of 1.24 minutes. what cutoff values would separate the 95% of orders that are in the middle of the distribution w..
“The federal government will be prevented by the size of the deficit from taking any action to stimulate the economy. The only possible source of stimulus is a decrease in the personal savings rate, he said.” a) Ignoring the deficit problem, what act..
Assume that you have a budget of $30 to spend on milk and cereal only. The price of milk is PM = $5 and the price of cereal is PC = $3.50. What is the most you can purchase of cereal? What is the slope of the budget constraint?
q.a social scientist claims that the average adult watches less than 26 hours of television per week. he collects data
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
Consider a production function of the form Y = AF (K, N, Z), where Z is a measure of natural resources used in production. Assume this production function has constant returns to scale and diminishing returns in each factor. What will happen to outpu..
Should United States government approach favors certain kinds of immigrants. Should citizenship preference be given to the neediest applicants.
According to the NBC Learn clip Consumer Confidence Hits Five-Year High, how does optimism and certainty about the economy affect consumer spending? Synthesizing the concepts of consumer confidence and aggregate demand, describe how spending can brin..
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