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Economists note that in the US the Government's monthly data on inflation and unemployment "overstates" the inflation rate (i.e. reports inflation higher that what it rcaUy is) and "understates" the unemployment rate (i.e., reports unemployment lower than what it really is). Why is this so? Explain.
Specify whether you agree or disagree with the statement as it appears on the topic survey.
Find the average time per unit required to produce the first 15 units, if the slope parameter of the learning rate is 91% and the first unit takes 400 hours.
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees $196.2 U.S. exports of goods and services 19.8 Consumption of fixed capital 11.8 Governme..
What is the marginal product of the second employee. What is the marginal revenue product of the fourth worker.
q.which of the government policies below is not likely to encourage per capita economic growth?in the latter end of
A clever, rich, and wealthy local politician promises to give you $1,000 on the first day of four months before elections….From here on he will give you 9/10 of the amount he gave you the day before… What is the total amount you will receive? When wi..
Problem associated with third video: demand with perfect complements. Graph her budget set with dozens of hamburgers in the x axis and dozens of buns in the y axis.What is the slope of the budget line? Give an interpretation for this number. Tiring o..
Determine which of the following situations describes games and which describes decisions. In each case, indicate what specific features of the situation caused you to classify it as you did. Consider the strategic games described below. In each case..
Many goods and services are illegally sold or legally sold but not reported to the government. How would increased efforts to count those goods and services affect our calculation of GDP?
Suppose your consulting firm was hired by a city to determine if it is worth it (from an economic/social optimization perspective) to submit a bid to host the next Summer Olympics. What people/groups should be included in your analysis? Why? Would yo..
Consider a 2 player stag hunt in which a Stag is worth 6 jollies to each player and a Hare is worth 1 jolly to any player catching one. What is the mixed strategy Nash equilibrium in this game?
When tolls on the Dulles Airport Greenway were increased from $0.50 to $1.50, traffic decreased from 31,000 to 10,000 trips a day. Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles..
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