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Explain the real-nominal principle in detail? This is from Economics course.
Assume that labor demand for engineering is perfectly inelastic and is given by the equation L^d=300, while the supply curve for engineering is given as L^s=210 +10W represents the hourly wage rate. what is the level of employment, wage and, unemploy..
As a result of the Kansas-Nebraska Act:
Why are cigarettes and alcohol the most heavily taxed items in the US? Now, if the government increases the price of these items by 10%, how does this affect the stores that sell them? Provide a detailed response.
Fair-trade standard guarantee
The factors that cause shifts in supply and the importance of demand are examined. What is the law of supply, and what are the factors that cause shifts in supply? What is the law of demand and why is it important? Why does an increase in the price o..
What effects would each of the following have on aggregate demand or aggregate supply, other things equal? In each case use a diagram to show the expected effects on the equilibrium price level and the level of real output, assuming that the price le..
onsider a 3*3 matrix in which each entry is either 0; 1 or -1. Add up the sum of the three entries in each row, column and diagonal and form a list of the sums. Give an explicit example of such a matrix and the corresponding list. Choose 16 distinct ..
Suppose your employer offered you $4,000 in cash instead of health insurance coverage. Health insurance is excluded from state and federal income taxes (let's ignore Social Security and Medicare wage taxes for now). The cash would be subject to state..
For each group identified in bold type below, use the labor-leisure choice model to illustrate graphically and then explain the change in the quantity of leisure desired. Be sure to explain how the group’s labor force participation rate is affected.
Zoltan Novak, and Paul smith both residents of the country of EAST Paragon are discussing whether the economy is operating at full employment. Zoltan, a market analyst argues that with unemployment at 5.3%, the economy cannot possibly be fully utiliz..
If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is
Nepal as a small open economy declared war on Germany on 4 September 1939, in which its government purchases increased and the rest of the world's government purchases also increased due the large defense spending. Then, for Nepal, holding others thi..
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