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Consider the following situations. Evaluate how they would affect the level of productivity of labour.
a) The cost of health care skyrockets. b)Trade barriers with other countries are reduced. c) An energy shortage develops. d) Vast improvements are made in production technology.
Using a supply and demand graph, make one shift of wither the supply or demand curve to illustrate the likely result of this action.
Additionally, several other configurations were also estimated. The results are shown on the following pages. Based on this data, answer the following questions. Comment on the significance of time trend and seasonality.
The total sum of squares is 400 and the sum of squares errors is 100, what is the coefficient of determination?
If velocity is unchanged and the money supply grows by 13% and the real GDP grows by 4%, what is the rate of inflation?
A symetric information can have deleterious effects on market outcomes. Discuss a few tactics that managers can use to overcome these problems.
Describe the dimensions of quality from micro- and macro-perspectives. What are the different formats or models and applications of quality? Discuss the top three in your opinion.
Why might the existing firms in a cartelized industry prefer to be regulated by the government? What is the problem with common property resources?
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
Explain how the distinction between expected and unexpected inflation is important to the distributional effects of inflation.
Define in general the term "internalize the externality" and explain its application in this case. Discuss a policy other than a tax or subidy that could cause individuals to internalize the externality. Explain briefly.
Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.
Use Excel program to estimate of the state's demand for KBC microbrews in Ohio. Print (past) the computer regression output and provide an economic interpretation of the regression results.
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