Fewer people are employed in freedonia now than at any time

Assignment Help Business Economics

Reference no: EM131236668

Consider the following statements:

a. Fewer people are employed in Freedonia now than at any time in the past 75 years.

b. The unemployment rate in Freedonia is lower now than it has been in 75 years.

Can both of these statements be true at the same time? Explain.

Reference no: EM131236668

Questions Cloud

Find the firms profit-maximizing output and price : Firm K is a leading maker of water-proof outerwear. During the winter months, demand for its main line of water-proof coats is given by: P = 800 - .15Q, where P denotes price in dollars and Q is quantity of units sold per month. Find the firm’s profi..

Do you think tax donations should be tax deductible : Thinking like an economist can be helpful in your daily life. If you understand basic economic principles such as incentives, opportunities, and risks and rewards, you can make better decisions. Learning to view the world as an economist can also hel..

Linkages between microeconomic decisions and environment : There are linkages between the microeconomic decisions made by managers and the macroeconomic environment. There are numerous examples from the current recession of company layoffs at the micro level, directly influenced by the decline in economic ac..

Concept of opportunity cost is an important one in economics : The concept of opportunity cost is an important one in economics. It is essential to understand the distinction between explicit and implicit costs. For this assignment, consider an event at work that you company is considering doing, such as a new p..

Fewer people are employed in freedonia now than at any time : Fewer people are employed in Freedonia now than at any time in the past 75 years. The unemployment rate in Freedonia is lower now than it has been in 75 years. Can both of these statements be true at the same time? Explain.

What is likely to happen to labor force participation rate : For each of the following events, explain what is likely to happen to the labor force participation rate:

Describe the assumptions of the monopoly model : Describe the assumptions of the monopoly model, as it applies to health and medical services where price discrimination takes place. Describe the assumptions of the monopoly model, as it applies to health and medical services, where suppliers can ind..

Four common bases of payment for physicians are salary : Four common bases of payment for physicians are salary, fee for service, fee per case, and capitation. Describe the effect of each payment basis on output. Discuss studies that have examined the relative costs and benefits of each payment system in C..

What should be the unit price to quote : An executive from a large merchandising firm has called your vice president for production to get a price quote for an additional 100 units of a given product. The vice president has asked you to prepare a cost estimate. The number of hours required ..

User Account

All Pages