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If the labor force of 155 million people is growing by 1.2 percent per year, how many new jobs have to be created each month to keep unemployment from increasing?
Instructions: Enter your response as a whole number. New jobs per month:
The theory of public choice suggests that
Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training? Why are workers with good looks paid higher in some jobs, but not in others? A recent report released ..
Distinguish between a balance-of-payments surplus and a balance-of-payments deficit in terms of payments of official reserves.
Current issues surrounding social security and the current policy being implemented in relationship to its impact on public finance. Also include any possible new policy discussions surrounding the topic that are related to public finance.
A profit-maximizing monopolist produces integrated circuits for computers using a single variable input labor. The demand function for the monopolist has been estimated as: What is the marginal cost function? What is the profit-maximizing (or loss-mi..
In a particular industry, labor supply is Es = 10 + w and labor demand is Ed = 40 – 4w, where E is the level of employment and w is the hourly wage. What is the equilibrium wage and the employment level if the labor market is competitive? What is the..
Graphically, the reservation wage is shown by:
Determine algebraically the equilibrium price and quantity? Suppose that the price to be fixed at $110. Determine algebraically the surplus or shortage that would result? Discuss the differences in elasticity of supply and elasticity of demand?
Elucidate the concept of the multiplier, and explain the role of the marginal propensity to consume in determining the size of the multiplier.
Write down the profit maximization problem of the representative firm. What is the new short run equilibrium price and production.
a) A consumer has a utility function, donuts (A) and peaches (B) given by u(A,B) = square root AB. What is the maximum amount peaches she would be willing to give up for one additional unit of donuts, estimate the marginal rate of substitution of pea..
The Paradise Shoes Company has estimated its weekly TVC function from data collected over the past several months, as TVC = 3450 + 20Q + 0.008Q2 where TVC represents the total variable cost and Q represents pairs of shoes produced per week. Describe ..
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