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1. In the unskilled labor market, workers are often young and inexperienced. Having little past performance to judge potential employees on, many firms hire workers for a trial period with the understanding that the worker will be dismissed for substandard performance. The commentators think France should reduce its job protection rights. Job protection rights make it relatively difficult and expensive for French firms to fire workers. How do restrictive job protection measures affect the demand for unskilled workers? Do they benefit or help the unskilled worker? Explain. 2. French officials defend job protection measures, arguing that job security makes workers happier and that happier workers are more productive workers. Do you think job protection measures could affect worker productivity and happiness on the job? Explain.
Explain which industries have substantially reduced fixed cost commitments. Reduction in costs has substantially impaired the ability.
So if trade barrier is reduced the Chinese economy will go down also affects the economy of the whole world. Do you agree or disagree with this argument.
Compare the marginal benefits and the marginal costs associated with your purchasing decision. Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
What should have happened to their real wage. Given a constant MPL, barbers should have experienced no wage change. D. In what units is real wage in part.
Can you make a decision of what part of the business cycle the U.S. economy is currently in? Why? What factors lead you to this conclusion? You may want to do additional research of sources to reach a conclusion.
If you were to draw the two nations' PPF's on the same graph, elucidate which would be farther to the right.
What is difference between contraction and expansionary monetary policy. What are pros and cons of using expansionary and contraction monetary policy tools under following scenarios.
Elucidate why a firm might want to produce its good even after diminishing marginal returns have set in and marginal cost is rising.
Derive and plot Hugo"s Engel curve for donuts. Explain how much does his weekly budget have to rise for Hugo to buy one more donut per week.
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
Now suppose the economy currently produces 2,500 garments of clothing and 3,000 bushels of wheat, illucidate which is represented by point B. Under these conditions, the opportunity cost of producing an additional
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantage were used in your simulation.
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