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Who of the following people are considered unemployed according to official statistics? (Mark off ALL who are considered unemployed.) choose which?
a. Jean works full time as a professor in economics.
b. James was laid off and decided to take the opportunity to go to grad school instead of trying to find a new job.
c. Jenny was laid off from her full time job. At the moment, she is working a couple of hours a week resolving billing issues for a medical insurance company.
d. Jonathan was laid off two months ago. He has been to several job interviews over the past month.
e. Jill was laid off half a year ago and spend several months on job searches. The last month, she has given up, but hopes to start again with job searching as soon as the weather gets better.
The demand for widgets is P = 100 -3Q and the supply of widgets is P = 20 + 2Q. Who bears the economic incidence of a $5 per unit tax on widgets? Find the excess burden of the tax.
The model of the market for loanable funds shows that an investment tax credit will cause interest rates and investment to rise. Yet our model of how investors behave claims that higher interest rates lead to lower investment. How can these two oppos..
Suppose an olligopoly consists of two firms Firm A lowers price and Firm B responds by lowering its price by the same amount. If averages costs and industry output remain the same, which of the following what will occur
The Nash Equilibrium provided a new look at certain economic problems and won the Nobel Memorial Prize in Economic Sciences in 1994. Since it's creation, the Nash Equilibrium has been applied to "international relations" specifically for war and arms..
A profit-maximizing firm hires labor up to the point where. Accountants calculate. Which of the following is NOT a factor of production? Normal profit is a(n) ________ cost because ________.
An article appears in the New York Times revealing scientific research that eating dark chocolate daily reduces your risk of a heart attack by 25%. In the short term, what will happen to the demand for dark chocolate?
Discuss the social and economic effects of colonization? How did it contribute the “Price revolution”?
Assume new suppliers enter the market due to the increase in demand so the new supply curve is Q= -500 + 10P. Illustrate what are the new equilibrium price and equilibrium quantity.
Two mutually exclusive alternatives are being considered for the environmental protection equipment at a petroleum refinery. One of these alternatives must be selected. Which environmental protection equipment alternative should be selected? the firm..
The reason that the increase in population growth in the 19th and 20th centuries did not lead to famine as Thomas Malthus predicted was because
Health insurance companies are oligopolies, and one of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Discuss in relation to the policies and practices of health insurance companies.
What is the lowest the ex-ante interest rate can go if the nominal interest rate is 2.42%, given the change in Joe's inflationary expectations
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