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Anna, who lives in Adelaide is trained in car assembly and has 30 years worth of experience working in car manufacturing plants. Recently, however all car manufacturing ceased in Australia and Anna was made redundant. She has continued looking for work but remains unsuccessful, and she has taken on no new training or skills. What does Anna's situation tell you about Australia's output gap at present, and what does this indicate with respect to the relationship between the actual unemployment rate and the full-employment rate?
State whether the following decision is a short-run or long-run decision:
How does the drought impact the market for "high-value forage"? What happens to the equilibrium price and quantity in market?
Demand-side policies are primarily short-run efforts that aim at getting an economy back to full-employment as fast as possible. As such, demand-side policies focusing upon reducing unemployment aim at putting workers back into the jobs that they hel..
Suppose the price of a movie ticket is $15. The local government decides this is prohibitive for people to see films, and imposes a price ceiling of $10.
Assume that two power plants, Firm 1 and Firm 2, release arsenic in a small urban community that exceeds the emissions standard. To meet the standard, 40 units of SO2 must be abated in total. The two firms face the following abatement costs: In abati..
Imagine that you are a lobbyist for timber, an established industry suffering from low-priced foreign competition, and you are trying to get Congress to pass trade restrictions. Which two or three of the five arguments do you think would be most pers..
Suppose that between 2003 and 2007, one group of individuals (Group 1) received job training while another otherwise similar group (Group 2) did not. Suppose that the average earnings of the first group went from $40,000 per year to $55,000 per year,..
Kevin Quinn was a 60-year old engineer who had worked for Mongo Project Corporation for thirty years. Quinn was approached by Mongo to work as manager of engineering on the Jumbo Project, a two-year project constructing an industrial city in Saudi Ar..
Contractionary fiscal policy and its effects on the economy and Federal budget.
How many kilometers must a car be driven per year for leasing and buying to cost the same? Use 10% interest and year-end cost. Leasing: $0.15 per kilometer Buying: $5000 purchase cost, 3-year life, salvage $1200, $0.04 per kilometer for gas and oil, ..
Is Mary correct or not in her assertion? Please explain your reasoning.
What would happen to the equilibrium price and quantity of latte´s if coffee shops began using a machine that reduced the amount of labor necessary to produce steamed milk, which is used to make latte´s, and scientists discovered that latte´s cause h..
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