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Currently, the island of Guam does not have a minimum wage need but uses the United States minimum wage as a reference. Give a theoretical justification for why the imposition of a $5.15 minimum wage in Guam might have a detectable impact on overall employment on the island. Describe why the $5.15 minimum wage in New Jersey likely has less of a detectable impact on employment.
Utilize the marginal productivity theory of labor demand to predict the impact on the firm's employment level of the following events.
Taxi fares in New York recently were increased by nearly 50%. Predict the effect on the price of taxicab medallions, the earnings of taxicab drivers and congestion in New York streets.
Illustrate what are the major types of transactions or activities that result in demand for foreign currency in the spot foreign exchange market.
Suppose an individal who moves from Asia to the United State and brings with him life savings of $40,000, which he deposits in a US bank.
What measures the fed should take to decrease the unemployment value and expand the economy. Remember that the answer has to deal with monetary policy,
If the airline industry was operating under other market structures, explain how would equilibrium price and equilibrium quantity differ
Additionally, several other configurations were also estimated. The results are shown on the following pages. Based on this data, answer the following questions. Comment on the significance of time trend and seasonality.
Productivity often increase during economic expansions and decreasing during economic recessions. Can you think of reasons why?
Illustrate what do you think will happen to the price and quantity of DVD players if. The availability of good movies to play on DVD players increases.
Countdown to a new agreement might galvanize development assistance debates. What do you think will happen and should happen- and why.
What is autarky price and quantity equilibrium for both home and foreign? What is the open trade price and volume under free trade.
Assume that the total cost function for a single firm in a purely competitive industry is given by following equation:
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