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NY state will soon implement a $15/hour minimum wage for fast food workers. What is your prediction of the short run effects of this policy? What is your prediction of the long run effects?
Assuming which the price elasticity of demand for U.S. exports equals 0.40 and the price elasticity of demand for U.S. imports equals 0.20.
If the cost of plaster and labour is $9 per gnome, what is the lowest price of gnomes at which there is a positive supply in the long run? (Remember that in order for there to be a positive supply in the long run, producers need to get their money ba..
If individuals resisting change are included in making change decisions in an attempt to gain their support, what is this approach called?
Consider s market where there are many firms with different cost structures. If demand shift to the left (decreases), the last firm that entered____.
If the mortgage interest rate is 7 percent, approximately how much are home owners paying in annual mortgage interest? b. If the interest rate drops to 6 percent, by how much will annual percentage decline?
If the market demand curve is Q = 100-p, what is the market price elasticity of demand? If the supply curve of individual firm is q = p and there are 50 identical firms in the market, draw the residual demand facing any one firm. What is the residual..
Suppose that an economy’s production function is cob-douglass with CRS(Y=AK^α * L^1-α ) and α=.3. What fractions of income do capital and labor receive? Suppose that the capital stock decreases by 15 percent. How much does output increase or decrease..
Graph the labor market with efficiency wages. Give a reason why firms would want to offer efficiency wages. Does the presence of efficiency wages increase or decrease the natural rate of unemployment?
When the absolute value of the own price elasticity of demand is zero, demand is:
In a natural monopoly, the average cost:
Which of the following is/are NOT (a) characteristic(s) of the Bismarck model?
Holding everything else constant, if interest rates increase:
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