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Q1. In the year 2000, average hourly compensation in the private trade sector was about $37 per hour worked (measured in the purchasing power of 1996 dollars). If labor productivity grew at the rate of 1.4% per year Illustrate what would average hourly compensation be in the year 2100 (still measured in 1996 dollars per hour worked)?
Q2. Illustrate what would Alfred Marshall likely say about the cost-push/Demand -pull distinction
Q3. Illustrate what do your forecasts imply about the relative strength of the economy over the next 2 years?
Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams.
When the Economy is at the point of Full Employment, is the Unemployment Rate zero percent.
Do you think this particular budget cutting policy helpful to curb the growing budget deficit.
The short-run and long-run effects of this change for the levels of per-capita output, and the growth rates of (total) output and per-capita output.
Talk about why a government may want to impose price control. But in this case, does the Mugabe government achieve its intended purpose
Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run.
Flora's Flowers operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue.
Identify three roles for money: money is a unit of account, a store of value also acts as a medium of exchange.
Your friend's monthly demand for minutes of calling is given by the equation 50, where p is the price of a minute.
Characteristics of Proprietorships what percentage of sole proprietorships is engaged in retail trade? Why might more sole proprietorships be engaged in services rather than manufacturing?
Explain whether or not you believe modern media is an effective check on government action.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
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