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According to the National Bureau of Economic Research, a poor family is the one whose income falls below one-half of the median family income. Using this definition of poverty, answer the following questions.
a) How, if at all, would the proportion of poor families be affected if
(i) The income distribution changed from a positively skewed one to a symmetric one, leaving the median income unchanged?
(ii) Every income was increased by 20%?
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Monetary Contraction Suppose the central bank wants to decrease the price level, but the economy is already at the natural rate of output.
Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service's rescue teams to locate those lost or in trouble in the wilderness.
The Wall Street Journal article reported that large hotel chains, such as Marriott, are tending to decrease the number of hotels that they franchise to outside owners and raise number the chain owns and manages itself.
Find the revenue earned by each bakery. From that revenue subtract the bakery's variable cost and compute the firm's short run economic profit.
Joanne has decided to buy the Hummer and set up a commuter service between Boston and Lowell. There are 1000 people who will pay $400 a year for the commuter service; $280 from each person goes for gas, maintenance, insurance, depreciation etc.
Find one example in the article of any one of the following four possible shifts of supply or demand: Leftward shift of the supply curve; Rightward shift of the supply curve. Leftward shift of the demand curve; Rightward shift of the demand curve.
Compute CS ,PS and the deadweight lossD)if firm 1 and 2 leaders and 3 follower (Stackelberg),What are the quantity choices for all three firms?
suppose the poorest 90 percent of citizens actually have an income of $15,000 because each receives $5,000 of unreported income from the underground economy. what is the Gini coefficient now?
What is the change in the number of unemployed people in this particular month and what is the change in the number of employed people in the same period?
Find the amount of the transfer implied by consultant B and determine whether the consumer is better or worse off from Consultant C's suggestion than before the price increases.
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
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