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Suppose that the initial price of pizza is $2 and the initial quantity demanded is 100 pizzas. If the price increases to $2.20 and the quantity demanded falls to 80, using the midpoint formula what is the price elasticity of demand in absolute value.
List and discuss the five important labor market trends How do these trends either support or qualify the proposition that increasing labor productivity leads to higher standards of living? Real wages have gone up rather steadily for decades allowing..
Unemployment benefits and food stamps are two examples of government transfer programs. What do price floors and ceilings implemented by agricultural price support programs and rent control programs have in common with these programs? Explain.
Many industrialized countries such as the United States attempt to seriously restrict immigration of production workers, but are more open to immigrants who are highly-skilled. Why might this be the case? Why is this a problem for developing countrie..
Here is the balance sheet of a bank. Required reserves are 10 percent of eposits. Suppose the bank prefers not to change ROE in the face of a liquidity shock. Show that liability adjustment does not reduce the size of the balance sheet. Using a,b,c a..
The standard time for a manual material-handling work cycle is 3.26 min per piece. The PFD allowance factor used to set the standard was 16%. During a particular 8-hour shift of interest, it is known that the worker lost a total of 32 min due to pers..
A manufacturer's annual labor costs are currently $1.2M per year. Costs are expected to increase by 10% per year over the next six years due to added manpower. Inflation is estimated to be 5% per year over the next six years. What will the manufactur..
Which of the following is included in the calculation of GDP? The purchase of a new edition of a foreign textbook that was produced in a different nation. The purchase of ink and paper supplies by a textbook company for the production of new textbook..
q.assume your company is considering three health insurance policies. the first policy requires to tests and covers all
A manufacturer is contemplating introducing a product that is inferior to its competition in its performance, design, and functionality. However, the manufacturer believes that “good brand marketing” can overcome these shortfalls. Why is this thinkin..
The Investment demand curve is a useful tool to summarize an important and complex relationship in the economy.
Trace the development of the labor theory of value from Adam Smith through David Ricardo to Karl Marx. What was the major contribution of each of the three economists to the development of the labor theory of value? What were the principles problems ..
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Would the consumer prefer to get $100 in food stamps or $100 in cash? You need to justify your answer t..
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