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After the reading the Issues & Applications in your etext: Interpreting Employment Data as the Gig Economy Grows and researching online how Social Security, Medicare, and unemployment insurance are more specifically funded, please answer the following questions:
Suppose that the natural rate of unemployment in a particular year is 5 percent and the actual rate of unemployment is 9 percent. Use Okun's law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion i..
1. Write down an educational production function in levels and another in a value added form. Explain their elements. Which form of educational production function does Hanushek favour? List three difficulties in estimating these production fun..
The central bank decides to implement an expansionary policy action. What would you expect to happen to the nominal interest rate, the real interest rate and the money supply and credit growth? Under what economic circumstances would this type of pol..
Suppose that society decided to reduce consumption and increase investment. A) how would this change affect economic growth B) what groups in society would benefit from this change What groups might be hurt
a) If the firm must charge the same price to both consumers, show that q1 = 400/3 and q2 = 200/3 and find the firm's profit b) Now assume the firm can perfectly price discriminate on a continuous level. Show that q1 = 200, q2 = 100, and that the fi..
Attila (A) and Francis (F), live on Coconut Island and face the problem of determining the amount of military defense they need to repel a potential invasion from neighboring islanders. Defense is a jointly consumed pure public good. They agree to..
Draw a graph describing the demand and supply curves before and after the tax. describe graphically the tax revenue and how it is shared between the consumers and suppliers (producers) of gasoline.
Market prices usually go up when aggregate demand outpaces aggregate supply.This can be described as an illustration of?
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
Use the total cost (TC) schedule that is presented in the table below to determine the optimal rate of production when the firm can sell all of the output it produces at a price of $6.50 per unit. Also determine the level of profit (or loss) that the..
investigate the role of ? the lagrange multiplier in constrained optimization problems. corn is a fertilizer-intensive
Write a function that will accept a list as a parameter. This list will be the list from the previous function. This function will use the selection sort algorithm that we used earlier in the semester to sort the list according to each quarterback..
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