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1. Holding other factors constant, if 3D-printing technology allows factory workers to manufacture more products per hour, then the real wages of factory workers will ______ and employment of factory workers will _____.
A) increase; increase
B) increase; decrease
C) decrease; not change
D) decrease; increase
2. An increase in the demand for chicken is predicted to ______ the real wage and ______ employment of unskilled workers in a poultry processing plant.
A)increase; increase
C)increase; not change
D)decrease; decrease
Discuss the importance of standards in networking technology and in communications in general. Evaluate how standards have helped to shape commonly used devices such as cellular phones or mobile devices.
Andy’s monthly demand (in number of bars) for “Clif Builder’s” protein bars is given by Q = 8 – 2P + (I – T)/1000, where I is Andy's monthly income, T is his monthly income tax expense and P is the price of Clif bars. Suppose the price of Clif bars i..
Antitrust policy is designed to. When were the first federal antitrust laws enacted in the United States? Under U.S. antitrust law, a consent decree allows a firm to. Which of the following is not true about income quintiles? Data on the U.S. income ..
Explain what Bounded Rationality is. Then discuss how this concept can affect the decision situation in SLP 1 - Also discuss how this concept can affect the data analysis in Case 1.
Provide a graph and explanation of the Argentine crisis of 2001-2002. Include a discussion of the “vicious circle” into which Argentina descended as it defended its peg to the US$, including the role of the IMF and the government budget deficits. Why..
John Adams wrote his wife that his office is the "most insignificant office that was the invention of man."
There is no real need for advertising in perfect competition or monopoly. However, firms in monopolistic competition and oligopoly usually do advertise. Watch the video for this week and tell us what you think about online advertising techniques vs. ..
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
A monopoly has the market demand Q = 1000-1000P, with a marginal cost, MC = 0.28. What is the optimal price and quantity for perfect competition? What is the optimal price and quantity for monopoly?
According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%. What percentage change in the CPI up unti..
Negative externalities such as water or air pollution lead to an inefficient allocation of resources. Explain why. Use a carefully constructed diagram to aid in your explanation. Such externalities have been dealt with mostly through command and cont..
The Supreme Court case nordlinger vs. Hahn test:
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