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Explain how a firm's production function is related to its marginal product of labor?
How a firm's marginal product of labor is related to the value of its marginal product?
How a firm's value of marginal product is related to its demand for labor?
State are you for or against free trade. Are you for or against NAFTA? What is the economic basis for trade
They could have rented it on the open marketplace for $700 per month. The condo owner was formerly renting the unit for $500 every month.
Also assume that the countries are otherwise the same: they have the same saving rate, the same depreciation rate, the same population growth rate, and the same technological progress. Both countries are described by the Solow model and are in thei..
Suppose the simple spending multiplier equals 10. Estimate the size and direction of any shifts in the aggregate expenditure line, the level of real GDP demanded,
Provide an example of the Fed's actions listed in the textbook or from the October 30th FOMC press release. 4. If the economy is currently in a long-run equilibrium and the central bank increases the money supply, what effect does this have on the ..
Suppose we have a data set with only two observations, y1 and y2. The general formula for the sample average is: sample average=1/2(y1+y2) Suppose y1 and y2 are sampled from the population in such a way so that they are correlated with each other.
Suppose that natural real output in the country of Eudemonia grows at a steady rate of 3 percent per year. In the past, velocity has been approximately constant, and the Eudemonian Central Bank (ECB) has maintained a target reate of growth of 4 pe..
From each pair of goods, pick the good for which demand will most likely be more elastic:
Are they required to ensure economic growth and a prosperous country.
A profit-maximizing company operating in a perfectly competitive market can sell products for $100 a unit. The company has a cost function represented by:
Which country is capital abundant according to the Heckscher-Ohlin theorem? Given your answer to (a), draw the PPF for Canada. Also draw the indifference curve and the relative price line for the no-trade equilibrium.
Use the aggregate demand-aggregate supply model to illustrate graphically the short-run and long-run impact of this decline on output and prices.
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