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Assume you are a sales manager who has to decide whether an additional salesperson should either to be hired and if so in which of the company's twelve sales districts should that person be employed. Recall that Profit = Revenue - Costs. Name and describe the most relevant economic concept you might use to make your decision? Explain how you would justify your decision to your boss using this concept.
What is the difference between cost-push and demand-pull inflation? Which was the primary cause of inflation in the early 1970's? What type of inflation had the Federal Reserve been trying to prevent in 1998 and 1999? What about in 2005 and 2006?
Analyze the business cycle. What are the determinants of aggregate demand? Examine changes in aggregate demand and aggregate supply, using the data from Step 1 and Step 2. How do these changes affect the business cycle?
China has begun to allow gradual changes in the RMB/dollar rate since 2005. There are still observers believed the RMB is undervalued. Which of the following statement is true holding other things constant?
1. Transportation costs per ton of product vary with distance. For trucks the function is: = 3 + 1.25 For rail it is: = 5 + For barge it is: = 6 + 1.1 where d i
a. Write out or graph each player's best-response correspondence. b. What outcomes can be supported as pure-strategy Nash equilibria?
Illustrate what are the values of public saving,national saving and private saving.
Why is currency devaluation so sought after in the weak economy? What are the downsides to this tactic for countries?
Explain what happens to supply, price, and quantity when the following condition occur:
Suppose that a given firm experiences decreasing marginal product of labor with the addition of each worker regardless of the current output level.
The government raises the minimum wage by 30%. Using the four Hicks-Marshall rules of derived demand as they apply to a particular industry (for example, you could pick the fast food industry), analyze the conditions under which job loss among teenag..
Milton Friedman expresses ambivalence toward such supply-side economics. What lessons did you learn?
Please provide information that has been certified as not similar to anything else on the internet or schools. I will not accept anything above 20% similarity according to my school verification. Please respond to my additional questions within 24..
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