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Explain the relationship between cyclical unemployment and the business cycle. Again, with reference to the business cycle, explain when cyclical unemployment is positive and when it is negative. Jamilah is a particularly productive waitress and she is often employed given her excellence. Yet for the past 3 months she has found herself unemployed despite still being a very efficient waitress. What does Jamilah's situation tell you about Australia's output gap at present, and what does this indicate with respect to the relationship between the actual (or current) unemployment rate and the full- employment rate (i.e. natural rate of unemployment)? A fall in the unemployment rate must indicate that the economy is doing well. While this is almost always true, it is not always true. Explain why this is so.
Do you think that a firm's market structure can change overtime? What happens to alter the market structure the firm competes in? Has the market structure your firm is in changed? Will it change in the future? Explain using examples.
David Ricardo’s Model predicts that rents will increase. Malthus and Marx predict that wages would decline. Illustrate all three models graphically. Then: Are these three theories consistent? Can they all be true at the same time?
Are property rights necessary for long-run economic growth? Are property rights sufficient for long-run economic growth?
Consider the simple model of goods/services market (with government and foreign trade AE=C+I+G+Xn) and the money market (Dm-Sm). Suppose the following policy mix is carried out: What would be the effect of lower required reserve ratio on the money ma..
Can the sample data have errors or be problematic when making decisions? Provide an example.
Which of the following statements best describes the underlying philosophy of Deming’s work in the area of quality assurance?
Which of the following can bring about an efficient level of public goods being provided by the government? The marginal benefit curve of a public good.
Consider a situation in which the Brazilian inflation rate is expected to significantly increase. Assess the impact on the nominal interest rate in Brazil and the value of its currency. If the International Fisher Effect holds, how will higher inflat..
Illustrate what are some cultural considerations when managing a global project. How might legal and political implications influence global project selection.
Calculate price elasticity at point S using the method E=ΔQΔP×PQ. Calculate price elasticity at point S using the method E=PP−A. Compare the elasticities in parts a and b. Are they equal? Should they be equal?
Is a monopoly's demand curve more elastic, less elastic, or equivalent to the demand curve of monopolistically competitive firm's demand curve?
a. Explain effects of an increase in capital stock on the marginal product of capital and the marginal of labor.
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