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What are the three types of unemployment? Unemployment is seen by some as undesirable. Are all three types of unemployment undesirable? Could the advent of the Internet completely eliminate frictional unemployment? Are all three types of unemployment undesirable? Explain.
Suppose that you are a worker. Your cost of working is $5.75. Youve submitted an asking wage of $7 but no employer has been willing to pay that much. The highest bid being offered by the remaining employers is $6.10. There is only enough time left fo..
When McDonald's Corp. reduced the price of its Big Mac by 75 percent if customers also purchased-Using your knowledge of game theory, what do you thank disrupted McDonald's plans?
A country which does not tax cigarettes is considering the introduction of a $0.40 per pack tax. The economic advisors to the country estimate the supply and demand curves for cigarettes as:
Consider a monopolist facing demand curve Q = 100 - P. MC=AC=$20. Find out the monopoly price, profits, and consumer surplus.
The interest rate is 5%. A firm's projected revenue from a project is $100M and the project costs are $97M
What is the difference between real and nominal GDP? Does GDP accurately reflect the nation's welfare
The subsidy ends when the money income with program participation equals the money income earned without the program. A simplified version of this type of program is one that would give this single parent a $40 grant accompanied.
Why are most labor unions--whose constituents receive wages substantially above the minimum wage strong supporters of the minimum wage Why might unions composed of skilled workers who are pure complements in production with raw materials produced
1. Explain why the real exchange rate never changes under the theory of purchasing power parity?2. What governs the behavior of nominal exchange rates under PPP?
Fully discuss the method by which the Federal Reserve uses the banking system to create new money.
A popular magazine reports that wrist watches are becoming the highest fashion craze. What affect will this have on the demand for watches, and what will happen to the price and quantity of watches sold on the market
Assume there are 3-firms with the same individual demand function. This function is Q = 1,000 - 40P. Assume each firm has a different cost function.
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