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Q1. Elucidate how a person who refuses an offer of employment in order to keep looking for a better job is counted by the bureau of labor statistics (BLS)?
Q2. Distinguish between the resources market and the product market in the circular flow model?
If the firm is currently producing 30 units, what are its marginal cost and marginal revenue at the current output level?
q. gains from trade will result if a country specializes ina. the goods in which it have a comparative advantage.b. all
Interview a small business owner and ask him or her about both the positive and the negative role of government in their business. Write a 2 page summary of your interview and include the questions you asked.
What is the difference between GDP and National income? How do both (GDP & National income) relate to economic growth? Explain.
Cutting the corporate income tax can potentially increase the pace of technological change resulting in the aggregate supply curve shifting to the right.
PL is the price of unskilled labor in dollars (the wage rate = $6), PC is the price of capital as a percentage, I is family ncome also PS is the price of California oranges.
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.)
Nevertheless your total unit sales have increased over this period. Assuming rational buyers and no deceptive advertising, how can you account for this.
Suppose the following were facts relating years of education to average annual income of individuals. Would you use the inductive or deductive method to derive an economic principle from these facts.
Enron will be an example of a dysfunctional company for many years to come. It was clearly a company riddled with fraud and excess.
Which nation has comparative advantage in wheat production? In cotton production. Which nation has absolute advantage in wheat production.
In contrast to a socialist economic organization, how would a capitalist system differ. Consider who owns capital (means of production) in two models.
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