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1. Indicate if the person would be classified as employed, unemployed, or not in the labour force and explaining the reasons: (i) a 65-year-old man who left his job and is now working as a volunteer for 10 hours a week; (ii) a university graduate who has not been able to find a position using her skills and is working as a wait-person for 30 hours a week; and (iii) a manufacturing worker who is out of a job and has given up searching for a job.
2. Use production functions from the economic growth model to explain why the United States of America grew at a much faster rate than the Soviet Union in the latter half of the 20th century.
Let us suppose that the consumer is choosing between beer and milk. The consumer will always prefer beer to milk. However, if the consumer has two choose between two consumption bundles having equal amounts of beer and different amounts of milk, then..
Conditions that exist when they shut down their operations and the conditions that exist when they resume their operations.
You purchase a house for $200,000 by putting 10% down and taking a 15-year loan for the balance. The APR (annual percentage rate) of the loan is 6%. After 5 years, you can refinance your loan at 4.8% for a fee of $2,000. To the nearest tenth of a yea..
Is the perfectly competitive model a good benchmark for an economic system which uses Biblical worldview? Use Scriptural support where appropriate and also comment on the perfectly competitive model as a guide for public policy. What should be the ro..
Find out the CPI in the subsequent year also the rate of inflation between the base year also the subsequent year.
Review the following graph. If Mexico produces 300 million tons of food, it can produce _________ million units of clothing without specialization or trade. Each ton of food in Mexico has an opportunity cost of __________ units of clothing. image Cli..
This focuses on the relationship between inputs and output. Different production curves are presented. But the intensity of current global competition often requires managers go beyond the traditional production curves. Today's manager must understan..
What is the role o the cost of capital in the valuation process, and what is one of the primaries uses the cost of capital (meaning in what area of chance is the ost often applied)? Why is it important for financial managers to understand the cost of..
In the typical signalling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers. Suppose that the government steps in and subsidizes low-ability workers for the higher costs they incur ..
Crossing the San Francisco Bay] There are 2 main ways to enter San Francisco from Berkeley. The Bay Bridge provides access by car and takes 10 minutes if it is not crowded. In this problem, explain what externality arises from the use of the Bay Brid..
Refer to the above graph for a profit-maximizing monopolist. At equilibrium, the firm will be earning:
Would Americans be better off if they bought less from foreigners? Would employment in the United States increase if we restricted imports with higher trade barriers?
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