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consider a labor market the labor demand curve is flatter than the labor supply curve. In the initial situation, the equilibrium in this market occurs on the "backwards-bending" part of the labor supply curve. Which of the following best discribes the effect of an improvement in technology of all producers on the equilibrium wage and equilibrium employment?
Suppose the state is trying to decide how many miles of a very scenic river it should preserve.
12. mrs. smith is operating a firm in a competitive market. the market price is 6.50. at her profit-maximizing level of
?Jim's favorite breakfast is two? eggs, 1/5 lb. of? bacon, 1/7 lb. of white? toast, 1/6 can? (16 ounce? can) of frozen concentrate orange? juice, and 1 lb. of grapefruit. The following table contains 1991 and 2001 prices for these five items. Using 1..
Consider an economy with the usual required reserve ratio (rr); economy-wide checking (demand deposits) of $400,000; total cash within banks of $100,000; cash held by the public of $36,000; and er = 0.16. Calculate the "naive" multiplier. We will use..
For the next two questions we will consider Rimor Bank, which has the following (partial) list of accounts on its balance sheet: Calculate the maximum amount of new money that Rimor Bank can create, by itself.
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
Describe two reasons why a country may be facing a Balance of Payments (BOP) deficit. What is the Official Reserves Account (ORA) and why is it more important for countries under a fixed exchange rate regime than for those under a floating exchange r..
Elucidate what happened to Ikonomia's net foreign assets during 2007. Did it acquire or lose foreign assets during the year.
In this economy we have an MPC equal to 0.80, Autonomous Consumption of $600 billion, Planned Investment (I) of $1,000 billion, Government Spending (G) of $1,200 billion and Net Taxes (T) of $1,000 billion. Determine the Equilibrium level of Aggregat..
Which of the following are positive economic statements and which are normative? Explain. a) Higher gasoline prices cause the quantity of gasoline that consumers buy to decrease. b) Everyone should enjoy open access to health care. c) A comparison of..
Assume the Bills have the chance to offer a season ticket that is good for all eight home games, a partial season ticket that is good.
A small manufacturing company produces certain plastic toys. They have a good market and variable costs are; labor cost$25.00/unit & material cost $5.00/unit. However, fixed costs are fixed at $ 45,000. What profit is earned if total revenue is maxim..
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