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The labour- force participation rate of married woman has more than doubled over the last 50 years. One economic influence on this rate was the increase in women's wages over the period. Another economic influence was the increase in men's wages, which raised the standard of living for most married woman.
a. Using an indifference-curve diagram, show and then explain how a rise in the income of a husband can lead to a fall in the number of hours worked by his wife. What assumption do you need to make about leisure to get this result?
b. Using another indifference-curve diagram, show and then explain how a rise in female wages affects a woman's decision of how many hours to work.
Write your paper in the style of an academic journal article. The in-class readings, as well as articles published in The Rand Journal,
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Since 1997, at least three million vehicles have been recalled due to air bag related troubles. Of these, roughly half were due to troubles of the sort that only time and road experience are likely to reveal.
For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Recognize similarities and differences among common goods, public goods, private goods, and natural monopolies.
How does your decision to invest in a college degree add to your capital stock Show this on your projected production possibilities frontier for ten years from now compared to your production possibilities curve without a college degree
Derive, and show on a table, Sony's total and marginal revenue for all possible output levels. From this, draw Sony's demand, marginal revenue and marginal cost curves
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Elasticity of demand for a good with respect to its own price, yet pay careful attention to the algebraic sign of the elasticity of demand for a good with respect to another good's price.
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
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