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Assume that you just saw the third quarterly economic statistics of this year for the U.S. economy. The data indicates that the economy has added 200,000 new jobs and the unemployment rate had fallen to 8%. Despite this good news, however, the report reveals that more than 500,000 individuals have given up the hope of employment. Some critics point to this number and argue that the decline in the unemployment rate is not real. What term do economists use to describe those who stop looking for a job? Evaluate the critics’ argument on the issue.
These three empirical observations are explained by ‘Preferred Habitat theory'. First, completely explain Preferred Habitat theory. Next, explain how this theory explains all three empirical observations.
How reliable is the Internet as a source of information for your research? What are the ways you can validate information that you find on the Internet? Why is this necessary? Use examples from the Information Literacy module you reviewed this week.
How might the business be structured? What might be some of the legal issues that could arise in operating the business and selling the product? What are some of the agreements that might be needed?
Because when a patent ends and generic drugs are introduced there is downward pressure on price, the makers of the brand name drug will:
Elucidate how much the money supply will rise in response to a new cash deposit of $500 by completing the accompanying table.
a competitive industry is comprised of 15 identical firms, each with a short-run total cost function
Which assumption about consumer preferences leads to diminishing marginal rate of substitution (MRS) as we move along from left to right on a typical Indifference curve.
Why is a financial crisis likely to lead to a contraction in economic activity?
If the government establishes a quantity subsidy on the consumption of a good, it means that the consumer has to pay for each unity of the good its price minus the subsidy. The government decides to impose a quantity tax of t on good 1 and a quantity..
"Outcomes of a Traditional Weight Control Program and a Nondiet Alternative: A One-Year Comparison" Did the experiment setup create the conditions intended? What conclusions do the experimenters draw about the relationships between the variables? Cou..
Identify an economic theory or relationship you could estimate via OLS and describe the hypothesis you would test for that theory or relationship.
Suppose for a moment that someone with legislative power decides to abolish Fractional Reserve Banking and passes a law that forces banks to only lend the money they own, that is M0. What would be the economy-wise implications of such a change in the..
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