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Assume the United States government is planning changes in economic and social policy to decrease wage inequality.
Evaluate whether the following will help:(a) Decrease the benefit level to welfare recipients.(b) Increase the benefit level paid to welfare recipients.(c) Provide wage subsidies to firms that hire the less-advantaged.(d) Initiate a federal training program the raises the skills of poor individuals.(e) Pass a law mandating that all workers must be paid a "living wage," which means that all wages must be sufficient to support a family of four financially.
Compute the marginal cost and marginal revenue of each unit of output and enter these figures in the table.
Estimate the relationship among inflation and unemployment.
Elucidate the historical relationship between unemployment and inflation.
Illustrate what the government should do about it, how would each economist explain unemployment and what policies would each advocate.
What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm 2 continued to charge $8?
Assume that initially the price is $50 in a perfectly competitive market. Company are making zero economic profits.
Due to the slow down economy, it is expected that there will be .7 million additional workers who will lose their jobs next month. Determine the expected unemployment rate for next month?
Describe the factor which determine the slope of the LM curve and whether an increase in theses factor(s) will make the curve flatter or steeper.
Dell Electronics just stumbled upon a new supplier of personal computer (PC) circuitry in Costa Rica that can supply standardized computer inputs at $70 per PC.
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
What are strengthen or weaken the argument that monetary policy should be the primary tool for smoothing the business cycle.
The table below is a production possibility table for the fictional country of Myopia. Use it to construct the corresponding production possibility curve.
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