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Describe the factors that influence wage setting. Write down the equation that represents wage setting, describe the effect of each factor in the equation/function, and draw the corresponding diagram. Clearly state the assumptions behind your analysis.
Is it appropriate to use an OLS regression on a panel data if it yields statistically better results than a fixed effects model? OLS results provide statistically significant variables and it is an overall better fit model than fixed effects in which..
What is the dominant technological design of the St. Jude Medical's industry (medical device manufacturing industry)? Examples: robotic technology, computer technology? Did this dominant technology develop quickly or more slowly and what influenced t..
Privatization in transition economies is often justified on the grounds of increasing. The text defines an economic system as. Which of the following legal forms of business organization provides for limited liability?
On a single graph draw marginal cost curve, average total cost curve and average variable cost curve for a typical firm. Explain how area that represents profit or loss this firm will earn.
A perfectly competitive firm sells 50,000 units of knives at a price of $3. The firm's average cost at 50,000 units is $2.75. Calculate the firm's profit. Please verify answer twice before sending back to me the steps. I want to make sure I have the ..
Suppose the following market schedule defines the weekly market supply and demand for corn (in thousands of bushels): Price ($) 1 2 3 4 5 Quantity? 3 6 9 12 15 Quantity? 15 12 9 6 3 (a) Plot the market demand and supply (b) What is the equilibrium pr..
Dogs kept in a backyard and are barking constantantly are notorious in most city neighborhoods. Do these dogs pose a negative or positive externality? What (if anything) should the city do about these externalities?
If the reserve ratio set by the Federal Reserve is 20% then what is the deposit multiplier? Your answer is-----. If the initial total reserves were 200 what level of total deposits the banking system can create? (Assume it is the simple banking syste..
Consider an economy with its production possibilities represented by. Suppose the economy starts with a capital stock at time t = 0 equal to 1 unit. Write down the values of gross investment, net investment, capital, consumption, and output observed ..
How would each of the following affect productivity in US?
One family of social dilemmas arises where a group of people are involved in some task that depends on the efforts of each of them. The strategy choices are work or shirk. In an effort dilemma, one persons shrinking places the burden of increased eff..
Nobody likes pollution (or crime, or accidents)! But economists, as they so often do, bring a different perspective to the issue of pollution. Assume that a paper plant dumps the chemicals it uses in making paper into the river it is located next to,..
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