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The high rates of unemployment and business bankruptcies during the Great Depression of the 1930s caused a dramatic increase in government intervention in the economy of the United States. What was the original intent of this government intervention? What were the most significant microeconomic and macroeconomic effects of this government intervention? Why?
The market labor supply curve is
Using a supply-demand diagram, show a labor market with a binding minimum wage. Now, use the diagram to show those who are helped by the minimum wage, and those who are hurt by the minimum wage.
You are going to make payments of $100 each year for the next 15 years. For the first five years (1-5) the interest rate is 8% yearly. For years 6-10 the rate is 8% compounded quarterly. For years 11 – 15 the interest is 8% compounded monthly. What i..
If a competitor increases its price what is the likely impact? Please support your argument using the economic principles you have been reviewing. Quick Profit sells box juice for $7.50 and has an demand function of: Q = 300 - 20P. At the present pri..
We know tastes and preferences play an important role in demand. Do you think of any possible future "popular product".
What changes in sales would you anticipate if you were manager of a Dodge/Plymouth franchise. What is each firm's marginal revenue.
Use the AS-AD model to describe what would happen to the price level and to the equilibrium level of aggregate output in the short run in the following situations: The Fed buys bonds in the open market during a period of low unemployment and no exces..
U.S. real GDP is substantially higher today than it was 60 years ago. What does this tell us, and illustrate what does it not tell us, about the well-being of U.S. residents
Suppose the employees of Starbucks in China are paid 8 yuan per hour and a cup of coffee is priced at 8 yuan. If Starbucks is maximising its profit, What is the value of marginal product of labour (VMPL) per hour of the last worker employed by Starbu..
Illustrate what are the effects of awards paid to heirs of workers judged to have been worked to death in Japan on wages
Explain why temporary and permanent fiscal expansions do not have different effects under fixed exchange rates, as they do under floating exchange rates.
If required reserve ratio is raised and people decide to hold more cash instead of depositing, how is the money supply affected?
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