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Problem: Suppose, at the beginning of 2008 there were 200 million people in the labor force and the unemployment rate was 8%. During that year 5 million new people entered the labor force, but only 2 million got a job. During the same period, due to the recession, a total of 1 million people quit looking for a job. Compute the number of unemployed and unemployment rate (round it to 2 decimal points) at the end of 2008?
The idea that countries should produce and sell goods that they produce most effectively and efficiently, and buy goods that other countries produce most effectively and efficiently, is known as.
Draw indifference curves to represent the following types of consumer preferences-I like peanut butter, but neither like nor dislike jelly.
How does Real Growth GDP impact on inflation, unemployment, exchange, real interest and NX (net export) rate
There are over 5,000 banks in the United States—more than 10 times more per person than in other industrialized countries. A recent study suggests that the long-run average cost curve for an individual bank is relatively flat. If Congress took steps ..
Demonstrate the effect of contractionary monetary policy in the AS/AD model
Assume the government decides to pass a law that requires all businesses to delay all future layoffs, giving at least 3 months notice to any workers they plan to lay off.
explain how the us government managed to accumulate a debt of over 14 trillion. to whom does it owe this debt? is the
In a free market, what causes shortages? Describe two real world shortages that you have encountered in your own personal or professional life.
The price mechanism would be least important under which kind of economic system? a) capitalism b) socialism c) communism d) fascism
Starting from the long-run trade equilibrium in the monopolistic competition model, as illustrated in Figure, consider what happens when industry demand D.
Distinguish between the substitution and income effects of a price change. If a good's price increases, does each effect have a positive or a negative impact on the quantity demanded?
Determine which of the two investment projects of Problem 1 the manager should choose if the discount rate of the firm is 20 percent.
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