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Industry A is composed of a strong labor union representing high-skilled workers. Industry B is composed of lower-skilled workers who are not organized. Which industry is more likely to have sticky wages? Explain.
You purchased a commercial building on August 1, 2003 that you are renting to a business. The total purchase price was $140,000. You estimate that the value of the lot is $150,000 of the total purchase price. You plan to sell the building on May 30, ..
The formula for the elasticity of supply is. Utility refers to the
Set up a Ricardo-type comparative advantage numerical example with two countries and two goods. Distinguish “absolute advantage” from “comparative advantage” in the context of your example. Then select an international terms-or-trade ratio and explai..
How do you determine how a consumer divides their resources between two goods? According to the theory of consumer choice how do you evaluate how you decide whether to save or spend money or even if you might have to work more in order to pay for ite..
In "That First Credit Card," what decisions could Ms. McLeod have made differently to avoid ending up in the situation she ultimately faced? When you faced similar choices, what decision did you make and what has or will be the results of those decis..
What is GDP comprised of? Also tell me about net domestic product and national income. If I told you that: GDP was $5 trillion Depreciation was $500 billion and indirect business taxes were $300 billion. How would you calculate the net domestic produ..
Discuss how knowledge of the world's great Classics (and classics) impacts higher level thinking in Management theory.
Religious practices often influence culture and worldviews. How does religion inform personal culture? What role do personal religious views play in communication?
Suppose in the market for oranges in a small country closed to international trade, the domestic price is $3 per lb. at which 10,000 lbs. are bought and sold in the country, while the world price is $4 per lb. If the country opens up to free trade wi..
In consumer-directed health insurance plans it is possible to have low levels of deadweight loss from moral hazard, while also having low coinsurance rates and no supply-side restrictions.
Desired consumption and investment are Cd = 4000 - 4000r + 0.20Y; Id = 2400 - 4000r. As usual, Y is output and r is the real interest rate. Government purchases, G, are 2000. Given the consumption function, what the value of the MPC? Given the saving..
Walking along a railroad track in a daydream, suppose you are suddenly aware of a loud noise right behind you. What would be the “type I” error? What would be the “type II” error? Which is more serious? So what would you do?
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