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The article utilize this kind of calculation to show the difference among labor productivity growth of 1.4% versus 2.5%. At a growth rate of 1.4% per year, labor productivity (and wages) will double every 50 years because 70 divided by 1.4 is about 50. A growth rate of 2.5% will double labor productivity every 28 years because 70 divided by 2.5 equals 28.
If the average employee compensation grew at the rate of 3.5% per year, how many years would it take for it to double?
Suppose that they are thinking of every specializing completely in the area in which they have a comparative advantage also then trading.
Illustrate what feature of a PPF illustrates increasing opportunity cost also elucidate why does your PPF not have this feature.
Citizens can protect themselves in the case of robberies or harm by using these guns. Other states do not allow citizens to carry handguns
Assume that PY increases by 15%, what percentage effect on quantity demanded of product X could be expected.
What three factors determine whether two economies with separate fiscal and monetary authorities should form a currency union.
If David and Ellen live in rent-controlled apartments, Illustrate what is the equilibrium cost for the non-rent-controlled apartments.
Domestic produces often base their claim for import protection on the fact that workers in country X are paid substandard t wages.
When looking at the role of tax cuts, you will find out that this can be effective for our economy.
The impossible trinity refers to the idea that a country can simultaneously pursue only two of the three following policies: free international-capital flows, monetary policy for domestic stabilization, and a fixed exchange rate.
Illustrate what are some criteria which Rollerblade should use to select countries to enter also. Illustrate what three or four countries meet these criteria best also are the most likely consolidates.
From the supply and demand schedules, from Belgium what are the equilibrium price also quantity of cocoa beans.
Illustrate what is the minimum product price at which the firm will operate in the short-run. Elucidate how many workers should the firm employ to maximize profits.
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