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Substitutability of inputs is an important characteristic of production functions. Also, capital deepening is a fundamental source of economic growth. Use the concept of input-substitutability to explain why the cost of manufactured goods tends to decline faster than the cost of services (e.g. childcare, haircuts, and education).
How is each of the following events likely to affect the value of the dollar relative to the euro?
Tina hires leff to do odd jobs around her horne and agrees to pay him $5 per hour' Tina further agrees to guarantee Jeff at least 40 hours of work per week' and to pay him l,5 times his base pay for any hourswor kedbeyond 40. If Jeff works 45hours th..
Consider the Rubinstein bargaining model of dividing $1 between A and B. A makes the first offer. If B accepts the offer then game ends. If B rejects the offer then B makes an offer to A in the next day. Suppose the bargaining game lasts for 4 days. ..
An increase in the interest rate is expected to cause the optimal level of human capital investment for an individual to:
A long standing question of interest to economists who study education is how outcomes vary for students who attend private schools as compared to public schools. The authors of this article have data on a standardized test taken when each student wa..
A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a
Which of the following would increase the consumption component of U.S. GDP?
A consumer may consume food x and hours of leisure time h. The price of one unit of food is $1. Initially, the consumer has no money and 24 hours of spare time that she may devote either to work, or to leisure. The consumer earns wage rate s per hour..
q1. show how each of the following would initially affect a banks assets and liabilities.a. someone makes a 10000
What is the relationship between a perfectly competitive firm's MRP curve for an input and that firm's demand curve for that input?
explain why a rise in the price of gasoline is likely to have more of an effect on consumers than a rise in the price of strawberry milk shakes.
During much of the 19th century in Great Britain, independent auditors were not only allowed to have an equity interest in their customers but were needed to invest in their clients in certains circumstances.
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