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In 2013, approximately 58 percent of the adult population (245 million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the prerecession level of 62 percent,
(a) How many more people would be working?
Instructions: Round your answer to one decimal place.
Million
(b) By how much would output increase if per worker GDP is $100,000?
When the price of pears fell to $3, what part of the change in Sarah's demand was due to the income effect and what part was due to the substitution effect?
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Consider a bond market. Show graphically and explain how each of the following changes would affect bond price, quantities traded and yield.
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don’t police departments increase their applicant pool by drop..
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Compare your answers to part d of problem 2 with those of part a of this problem also elucidate why they are different
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case?
Domestic produces often base their claim for import protection on the fact that workers in country X are paid substandard t wages.
Suppose that the salary for a recent industrial engineering graduate is expected to increase by 12% per year from a base of $52,000 over the next five years. If the interest rate is taken to be 10% during the period, the present worth of the earnings..
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