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Much publicity has been made about the rise in unemployment in manufacturing industries in the US during a period of sluggishness in trying to recover from the 2008-09 recession. However, with the 2017 real GDP being close to its natural level, manufacturing firms complain that they have plenty of job openings, but cannot find workers whose skills match up well with the positions. Apply the concepts of structural and cyclical unemployment to contrast this decline in manufacturing employment in a sluggish economy versus a healthy economy
Bailey, Inc., is considering buying a new gang punch that would allow them to produce circuit boards more efficiently. The punch has a first cost of $110,000 and a useful life of 15 years. At the end of its useful life, the punch has no salvage value..
Does the free-market (i.e. unregulated) use of common resources tend to be more or less than the socially optimal level?
Say that the exchange rate between the U.S. dollar and the Melnik bop is expressed in terms of bops per dollar. All of the following will cause this exchange rate to rise, ceteris paribus, except for:
In a perfectly competitive industry, the price of good A is $2. If a firm in this inudustry decides to increase its price to $2.50, it will:
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
All economic systems (capitalist, communist, or any other) face similar economic problems. Which of the following questions would NOT be faced by all economies?
What does the airline pilot’s supply curve in the Case in Point on how she has dealt with wage cutbacks look like? Does the substitution effect or the income effect dominate? How do you know?
Currently you can purchase a used 10 year old CAT 24D for $85,000. Ten years from now, you think that a comparable used machine will sell for $105,000. What is the average annual inflation rate on used equipment that you are expecting during this 10 ..
Why is this the case and how does it relate to the marginal product of labor (MPL) in each sector and the production possibilities frontier (PPF)?
q1. explain how does an increase in transport costs change the gains from trade in melitzs 2003 model? are the effects
Justin likes to have chocolate chip cookies and milk for breakfast. When the price of a chocolate chip cookies is $1 and price of a glass of milk is $1, he consumes 10 chocolate chip cookies and 6 glasses of milk each week. hat happens to the MRS at ..
Write a formula which describes the marginal product of labour in the short run as a function of the amount of labour used.
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