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1. There is evidence of widespread voluntary unemployment. If people prefer leisure to working, should this be of any concern to government?
2. All unemployment is voluntary; Discuss the economic basis for this assertion.
Suppose per unit tax, T is imposed on buyers. Then what is the equilibrium quantity and equilibrium price? Now, assume T=30, then what will be equilibrium price and quantity. (Hint: use P is the price producer receives, and P+T is price paid by th..
Suppose that now research firms can sell their machines to all producers in the world, including those in the South, and can charge the same markup. Derive the steady-state equilibrium under these conditions.
Explain the differences between the following three measures of damages for breach of contract: expectation damages, opportunity cost damages, and reliance damages.
A natural spring runs under land owned by ten people. Each person has the right to sink a well and can take water from the spring at a constant marginal cost of $5 a gallon. Table 2 sets out the marginal external cost and the marginal social benef..
Circle the new equilibrium if there is an increase in cocoa prices.
Keynes rejected the classical notion of Say's law. He argued that under-spending was very likely. Keynes focused on aggregate demand (total spending) as being the key determinant to the level of macroeconomic activity not aggregate supply which wa..
The expression "2/10, net 30" means that the customers receive a 2 percent discount if they pay within 10 days; otherwise, they must pay in full within 30 days. What would the sellers's cost of capital have to be in order for the discount to be co..
yi szlig1xi1 szlig2xi2 szlig3xi3 szlig4xi4 eifor the hypothesis h0 szlig21 szlig3 szlig4a propose a test statistic
1. Suppose the inverse demand curve facing a firm is given by the linear equation P=64-8Q. What is the marginal revenue of the firm's 4th unit of output 2. Suppose the inverse demand curve facing a firm is given by the linear equation P=64-8Q.
Michael, Inc., a manufacturer of electric guitars, is a small firm with 50 employees. a. How many employees receive hourly wages of at least $18? b. What percentage of the employees has hourly wages of at least $18? c. What percentage of the employee..
Freedom to trade internationally adds to the consumers' choices available for purchasec. All of these are correctd. Typically, it is belived that when countries trade with one another, ther eare gains in production efficiency
Discuss forecasting and explain why is it so important in the management of business firms and other enterprises also determine the different types of forecasting?
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