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There is evidence that other things equal a 10% increase in the number of workers having a particular skill level leads to about a 4% decline in wages for workers with that skill level. In addition, to this 10 to 4 ratio appears to hold true whether the increase in labor supply is caused by domestic changes in labor supply or by influx of foreign immigrants. Suppose that 42,000 computer programmers work in Silicon Valley. If the number of computer programmers in Silicon Valley increases by 6,300 because of a change in the US immigration laws, by how many percentage points would you expect the wage of computer programmers to fall in Silicon Valley? Suppose that 8000 full-time cooks work in restaurants in the Denver area. If Denver becomes popular both with US citizens and with foreigners such that 800 full-time cooks move to Denver from other parts of the United States while 560 full-time cooks move to Denver from other countries, by how much would you expect the wages of full-time cook stuff all in Denver?
In response to a prce decrease from 27 to 22 sales qty increases 13200 to 14800 calcuatente absolute value of the price elasticity of demand.
Geake Sausage Company has just purchased a new meat-grinding machine. The machine's purchase price was $22,500. Geake made a 20% down payment
explain why a $100 billion increase in govermant purchases of goods and services will lead to a large increase in aggregate deamnd than a $100 billion decrease in taxes?
Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion, government purchases equal $3 billon and tax revenue equals $1.
What has your experience been? If you are not, why have you not joined communities for products or services that you like?
The effect of global competition on the decisions made by management with regards to change in labor demand, supply, relations with unions, and rules and regulations in your chosen industry
Suppose the market demand function is given by: Q = 100 - 2P , where Q: total quantity, P: market price. And in this market there are two firms with MC=AV=$10. Find each of the following: Perfect competition price, quantity, and consumer surplus? Mon..
The Marginal Rate of Product Substitution (MRPS) is the rate that one output must be decreased as production of the other output is increased. The most common form of MRPS is?
The pumping costs are $8.50 per foot of pipe initially, and they increase annually by $6 per year starting in Year 2. What is the economic life of the pipe
From www.whitehouse.gov compare and contrast the issues discussed in two briefings you selected.
The current crisis in Greece has led to an increase in its risk premium. Using the IS-LM model for a small open economy, show the impact of this increase in risk premium on output, net exports, exchange rate, and investment. Do you think the results ..
In December 1992, the federal government began requiring that all foods display information about fat content and other ingredients on food packages. The displays had to be verified by independent laboratories. The price of an evaluation of a food pr..
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