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1. Explain the concepts of implicit contract, efficiency wages and insider-outsider theory.
2. Traditionally, Canadian capitalism emphasizes efficiency rather than equity, while American capitalism emphasizes equity rather than efficiency. Therefore, the rate of union membership and the degree of union activism are higher in Canada than in the United States. Evaluate this statement if it is true, false, or uncertain.
If, in the money market, the quantity of money demanded exceeds the money supply, we would expect the interest rate to:
Calculate a 95% confidence interval for the difference in life expectancy between Africa and Asia.
Microeconomics - study of individual behaviour - individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry in Australia from this list and discuss the reforms been done in that industry. Cost of production- i..
Prove the Heckscher-Ohlin theorem. Assume two different sets of factors abundances for two countries and derive the resulting free trade triangle. Use the combination of words and graphs for the answer.
What market structure best describes the structure under which your organization operates? Identify one challenge and one opportunity that arise from this and how the firm might use these for strategic advantage.
How much do you have to save each month if you can earn an annual return of 10.7 percent?
What happens to hours of work when non-labor income decreases? Does such a non-labor income change generate a substitution effect? Why might we expect welfare programs create work disincentives? What happens to the probability that a particular perso..
Smoking cigarettes is a leading cause of many diseases. The government has opened several public clinics that treat smoking-related diseases and is trying to decide how to fund these clinics. 2.2. Another suggestion is to get the funds for the public..
Describe how the economic theories and principles you have studied in this course have deepened your thinking about economic behavior.
Who benefits from rent ceilings? Who suffers? What are the long-term effects of rent ceilings? How can landlords and tenants cheat on rent ceilings? Do you think the rent ceilings might lead to more discrimination against certain groups?
Accordingly, calculate the own price elasticity of demand for Good A. Is demand for Good A elastic, inelastic, or unit elastic?
In February 2015, Wal-Mart announced that it would increase the pay rate for all its lowest paid workers. Is this wage increase a growth in fixed costs or variable costs? Would it be affected by output? If Wal-Mart's sales drop off, how might the sto..
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