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In 2? hours, Meg can make 3 dozen cupcakes or 2 chocolate cakes. Her? friend, Janis?, can make 5 dozen cupcakes or 1 chocolate cake.
If Meg specializes in cupcakes and Janis specializes in chocolate cakes, total production of cupcakes will be _______ dozen cupcakes, and total production of chocolate cakes will be _______ chocolate cake.
If the economy were at a steady-state unemployment rate with a separation rate of 0.02 per month and a job-finding rate of 0.10 per month, and the labor force was 100 million, how many individuals would lose their jobs each month?
Consumer and investor optimism and pessimism matter a great deal in the economy. Suppose that survey measures of consumer confidence indicate a wave of pessimism is sweeping the country.
Write down a formula that express the marginal product of labor in the short run as a function of the amount of labor used.
Suppose a consumer considers Good X and Good Y to be perfect complements. Sketch the graph of the two indifference curves for this consumer. Please put the amount of good Y on the vertical axis, and the amount of good X on the horizontal axis. Also, ..
China is a nation for which the relationship between insurance market development and overall economic development is a bit different than for most nations.
Suppose the Federal Reserve pursues expansionary monetary policy at the same time a reduction in taxes occurs (i.e., a fiscal expansion). Explain what effects this combination of monetary and fiscal policy will have on the macroeconomy.
What are the 4 types of unemployment? Please explain the current situation of employment in the United States; how does it differ for the long-term unemployed (over 6 months)
You operate your own small building company and have decided to bid on a government contract to build a pedestrian walkway in a national park during the coming winter. The walkway is to be of standard government design and should involve no unexpecte..
Find the three stages of production. If the wage rate is $500 and the price of output is $5, how many workers should the firm hire? Why?
Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service’s rescue teams to locate those lost or in trouble in the wilderness. How will this affect the cost the forest service incurs?
q1. consider and economy with output equal to the natural level of output. now assume there is an increase in
Using the loanable funds theory, show in a graph how the following events will affect the supply and demand for loans and the equilibrium nominal interest rate: Recent signs of economic growth cause an increase in the public's expectations of future ..
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