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1. To aid in its economic recovery after the Asian Financial Crisis, what main areas of its economy did South Korea have to restructure/reform?
2. What's the best way to describe the postwar Japanese labor market?
On March 31, 2008, Hawaii lost 15 percent of its air service as aloha airlines and the cheap-flight airline ATA suddenly shut down. Stranded travellers were offered flights to west coast cities $1000 one way. Under what conditions the $1000 fare woul..
Jonathan wanted to make a quarterly deposit so that at the end of 10 years he will have $10,000 for a new BMW 1600 cc bike. If the account earns 6% annual interests, compounded quarterly, how much should Jonathan deposit each quarter?
Suppose a firm has a warehouse that they originally purchased for $500,000. They have a project that they determine would be acceptable if the costs for the warehouse were at most $1,500,000. The firm has determined the market price for the warehouse..
The demand for company X's product is given by Qx = 12 - 3Px + 4Py. Suppose good X sells for $3.00 per unit and good Y sells for $1.50 per unit. a. Calculate the cross-price elasticity of demand between goods X and Y at the given prices. b. Are goods..
Upon graduation, you realize you have three options: you can take a job as a computer programmer, take a job as a coal miner, or remain unemployed and play video games all day. As a coal miner, you would create value of $3,000 per week, and receive d..
In a market economy, every resource will tend to be paid according to its marginal product. Highly productive resources will command high prices, whereas less productive resources will command lower prices.
Explain, using the isoquant-isocost diagram, why a rise in the rental rate of capital coupled with no change in the wage rate will lead to a rise in the price of the capital-intensive good relative to the price of the labor-intensive good.
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. Can businesses be an important cause of inflation or is it a pure monetary eff..
Customers arrive at an automated coffee vending machine at a rate of 4/min, following a Poisson distribution.
Explain how to find the equilibrium market interest rate in an economy where all individuals are alike and there is no government or other assets Explain how to find the equilibrium market interest rate in an economy where all individuals are alike a..
Brenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm’s MRP for bricklayers is $22.25 per hour for each of the first seven bricklayers, $18.50 for an eighth bricklayer, and $17.75 for a ninth bricklayer. Gi..
If a firm in a competitive labor market offers less than the market wage rate, it will:
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