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Price Elasticity of Demand Problem
You work for a employment agency, that sends out unemployment checks to the umemployed. The President, proposed a 21% increase in the minimum wage. Your boss wants you to provide you with a estimate of additional workers who will file for unemployment checks next year if this bill passes. Based on library research, you learn that 200,000 workers earn at or below the current minimum wage. More research leads you to the own price elasticity of demand for minimum wage earners to be -0.30.
Based on your findings, how many additional workers do you think will file umemployment claims in your state?
Assume that your firm above is the N.Y. Yankees and the league owners impose a lump sum tax of $4 million dollars on your firm.
Suppose Bank of Canada (BOC) purchases $100 million worth of government bonds from a chartered bank. Assume BOC imposes 5% legal reserve requirement ratio to the banking system.
What should be the role of the tax of accountant in the organization decision making process.
Explain which of the following transactions would be directly counted in 2007's GDP. In each case, explain whether the action causes an increase in Consumption, Investment, Govt. Purchases or Net Export.
If the desired fiscal stimulus is $20 billion and the desired AD increase is $50 billion, we can conclude that the MPC is:
Describe departmental cost driver rates depends on direct labor hours for assembly also machine hours for cutting.
If the minimum salaries is set above the equilibrium salary, does this make a shortage or a surplus of labor, or does it create a lower wage rate
Describe and answer in economic terms the question, should a company hire temp teachers or hire new teachers?
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
Write a 700- to 1,050-word paper in APA format describing the effects of taxation and price controls on the economy.
Illustrate the difference among dollarization, a currency board, and a fixed exchange rate regime. Do you know of any countries that have recently adopted dollarization.
Explain how advertising can be employed to allow Tots-R-Us to keep price average above cost without encouraging entry.
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