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Assume an economy with steady-state unemployment. The separationrate is 2.5% per month and the finding rate is 47.5% per month. Theadult population is 120 million workers and the labor-forceparticipation is 2/3. How many workers lose their jobs each month.
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
A civil engineering consulting firm is evaluating its cash flow requirements for the next 7 years. The company expects to replace computer equipment and furniture at various times over the 7-year planning period. Specifically, the company expects ..
What single amount on april 1 2012 is equivalent to a series of equal, semiannual cash flows of $1000 that starts with a cash flow on january 1, 2010 and ends with a cash flow on January 1, 2019
All cheese manufacturers have the cost function C=Q^2+9, while demand for cheese is given by Qd=120-P. The long run equilibrium number of firms is
a nation's rate in 2003 was 5%. It accumulated capital at a rate of 5% and added to its employment of labor at a rate of 5%. The proportionate increase in real GDP in response to a proportionate increase in capital was 0.2, and the proportionate r..
Country A has 1500 units of labor and can produce two goods, manufactures and food. A's producers take 5 units of labor to produce one unit of manufactures and 6 units to produce one unit of food. Country B has 1800 units of labor and takes 3 unit..
What term would economists use to describe what happened in year 3 Expansion OR Recession If the growth rate in year 3 had been a positive 5 percent rather than a negative 2 percent, what would have been the average growth rate
Suppose that the economy is thought to be 2% above potential (that is, the output gap is 2%) when potential output grows 4% per year. Suppose also that the Fed is following the Taylor rule, with an inflation rate of 2% over the past year.
A firm with market power has an individual consumer demand of Q = 20 - 4P and costs of C = 4Q. What is the optimal price to charge for a block of 20 units
Two girder designs are under consideration for a bridge for a 1,200-foot crossing. The first is expected to result in a superstructure weight per foot of 22(S) + 800, where S is the span between piers. The second should result in superstructure we..
What is Harry's price elasticity of demand for good x, denoted "x;px ? From Harry's perspective, is x ordinary, Gien, or neither? What is Harry's income elasticity of demand for good x, denoted "x;I? From Harry's perspective, is x normal, inferior, ..
Does the firm have constant, increasing, or decreasing returns to scale? Why? If wages are $20,000 per person per operating period and capital units for $3,000 per unit per operating period, calculate the average cost of producing 12,000 units and..
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