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Suppose that wages per week in country A (a poor country) which consists of 4 people are $1, $8, $25 and $40, while in country B (a rich country), which also has 4 people, the wages are $120, $500, $1200 and $3500.
Question: In which country is the standard deviation of log of wages higher (log refers to the natural logarithm)?
Total unemployment compensation increases during recessions with no change in benefit rates.
The organization's strategic plan calls for an aggressive growth plan, requiring investment in facilities and equipment, growth in productivity, and labor over the next five years. It is your team's task to determine where, outside the United Stat..
Suppose that you are a member of the Board of Governors of the Federal Reserve System. The economy is experiencing a sharp and prolonged inflationary trend. Explain in each case how the change you advocate would affect commercial bank reserves, the m..
An increase in government expenditures that ________ the budget deficit in an example of ________.
Mr Patel runs a motel in Tampa, FL. The market is highly competitive since there are many hotels in the surrounding areas and the average room rent per night is $35. There are 30 rooms are Mr Patels motel and each room can be rented for 30 nights a m..
1. What is the law of unintended consequences? Provide an example. 2. Is the opportunity cost of flying the same for all passengers on an airline flight from New York City to Los Angeles? Why or why not?
Consider an open economy in which the aggregate supply curve slopes upward in the short run. Firms in this nation do not import raw materials or any other productive inputs from abroad, but foreign residents purchase many of the nation's goods and se..
To reduce unemployment, the Federal Reserve authoritis should
Why is Woodrow Wilson described as the father of Public Administration in the US? Briefly explain the meaning of political power and administrative power.
According to Ronald Weight and Carlos Angulo, describe the five areas of racial bias in the criminal justice system. Taken together, what effects do these biases have on people of color?
Suppose a firm's produces computers and it's associated costs are only fuction is given by C(y) = y^3 - 8y^2 + 32y (a). find the long run market price that prevails if this firm is operating in perfectly competitive market. (b). Derive the shut-down ..
In the 1997-99 period many self-proclaimed economists claimed that the Phillips Curve was finally dead. Apparently, the “old macro rules” didn't work anymore, possibly because the “new economy” had arrived. Think about the third equation in the model..
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