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Suppose that the amount of labor available for the production of pianos and cars is now 60 hours. You are told that Melodia is currently producing on its PPF and Melodia is producing 3 cars. Calculate how many pianos Melodia is making.
Question: "As we know, environmental destruction is frequently a symptom of poverty. How might we internalize negative externalities of environmental destruction and correct for some market failures?"
Suppose the government reduces taxes by $20 billion and the MPC is 0.75. A. What is the total effect of this tax cut on equilibrium output?
What accounts for whether case a or case b occurs? d. Suppose that a scalper had secretly learned before the announcement that Aaron Han would not play in the next game. What actions do you think he would take?
A man is fired from his job because he was late for work too many times; While he is searching for another job, he would not be counted in the labor force because his employer had a legitimate reason for firing him.
Consider the following situations. Evaluate how they would affect the level of productivity of labour.
What are the costs of inflation and Which of these costs do you think are most important for the U.S. economy? What are your shoe leather costs of going to the bank? How might you measure these costs in dollars?
Read the description of the ultimatum game experiment in Section 13.6. How would you play if you were a subject in this experiment? What kind of offers would you make?
Illustrate what happens in the market for apartments when the government institutes a price ceiling that is lower than the market price. What could be some actions taken by renters and landlords when dealing with a price ceiling.
The Laser Printer Company decides monthly what to produce during the subsequent month. It produces three types of specialty printers-the Laser Rocket, The Laser Omega and the Laser Alpha-which bring them profit of $60, $90, and $73, respectively.
Evaluate the following: The laws of supply and demand cannot apply to the labor market because labor is not a commodity to be bought and sold like machines.
Illustrate what does this say about the likelihood of our running out of resources.
Suppose that real GDP per hour of work grew by 6 percent last year and the capital per hour of work grew 9 percent. Using the one third rule, by how much did the increase in capital per hour of work increase real GDP per hour of work?
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