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Use the following scenario to answer questions.
In a given year in the United States, the total number of residents is 170 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 10 million.
(1.) What is the size of the labor force in the United States for the given year?
(2.) What is the unemployment rate in the United States for the given year?
What is the marginal revenue for hiring a worker for the 1 st hour? For the 2 nd hour and determine how many hours Eva should extend her bakery's hours of operations.
Your are the chief economic advisor to the King of Terra. The king has observed that while the price of energy has increased 20 percent over the past five years, consumers have actually increased their energy consumption by 10 percent over the sam..
The budget deficit is of tremendous concern and all law makers agree that some measures should be taken to reduce it. However, The Republicans see the issue as a spending problem, while the Democrats see it as a revenue problem.
In the classical model with fixed income a decrease in the real interest rate could be the result of a(n): If currency held by the public equals $100 billion, reserves held by banks equal $50 billion, and bank deposits equal $500 billion, then the ..
each class member shall prepare a written report concerning the performance of a company of their choice.
With an unprofitable rural hospital that was offered a contract at a lower price, what are major economic concepts that are important in making the right decision?
Write the equation(s) for the new budget constraint
1. the owner of a tropical forest harvests timber so as to maximize his own profit from the land. this forested land
Find Marens consumption in the two periods ( as a function of m1,m2 and r)3) If the interest rises, how will Maren chanhe her consumption in each of the two periodes
Draw a budget constraint and an indifference curve for an individual who works in period one and is retired (earns no income) in period two. He consumes some of his income in period 1 and saves the rest of his income for period 2.
1. if the economy is in equilibrium and suddenly the level of planned investment increases by 2 billion national income
Frederic Bastiat (1801 - 1850) was a French political economist famous for exploding popular economic misconceptions
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