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Suppose the U.S. government is considering changes in economic and social policy to reduce wage inequality.
Evaluate whether the following will help:
(a) Decrease the benefit level to welfare recipients.
(b) Increase the benefit level paid to welfare recipients.
(c) Provide wage subsidies to firms that hire the less-advantaged.
(d) Initiate a federal training program the raises the skills of poor individuals.
(e) Pass a law mandating that all workers must be paid a "living wage," which means that all wages must be sufficient to support a family of four financially.
Define the Economics terms, national accounting identity, Hodrick Prescott filter and what it does, Cobb Douglas production function
Elucidate what is the residual demand elasticity facing one firm at the competitive equilibrium.
Illustrate economic evidence is required to determine whether there are long-run increasing returns to scale in banking.
Why would you expect the inflation rate to accelerate if the actual unemployment rate declined to a level lower than.
In a closed economy without a government sector, consumption is determined as 80% of the income available to households. Investment is autonomous at a level of £450.
Critics have argued that if there are strong factor substitution effects, these subsides can reduce employment in the state.
Illustrate what type of fiscal policy did the Congress enacted while the effects of Hurricane Katrina.
Describe this mean that the area affected by the natural disaster has experienced economic growthIllustrate what are the seen effects and what are the unseen effects.
How would each of the following affect the firm's marginal, average, and average variable cost curves?
What is the difference between contractionary and expansionary monetary policy?
Would you rather earn a 4 % nomical or 4% real interest rate? Illustrate by describing the difference between nominal and real variables.
Make sure to properly cite and reference the article in your review, along with any additional sources that you use.
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