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A country with a civilian population of 120000 (all over age 16) has 100000 employed and 10000 unemployed persons, of which 5000 are frictionally unemployed and another 3000 structurally unemployed.
A. What is the size of the labor force?
B. What is the actual unemployment rate?
Some people advocate government funding of college scholarships as a way of creating a more egalitarian society. Others argue that scolarships help only those who are able to go to college. Do your answers to the preceding questions shed light on ..
At some universities and colleges, economics professors earn hugh salaries than professors in some other fields.
Analyze why the prices of gasoline rose so high over the summer. Was it because OPEC cut back production and the number of people driving was more. Illustrate this using a graph showing a decrease in supply
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
What are the issues surrounding the sovereignty of states and their governments' ability to regulate their economies? In what ways is economic globalization responsible? In what ways is it not responsible?
Expalin how does it estimate the demand for new products so that it can prepare a production run. Which is more important for your business: lower cost, quality, customer expectations, or some other feature.
Discuss the evolution and responsibilities of the Federal Reserve System. What circumstances promulgated both the development and composition of the system?
This problem uses Okun's law to study how the unemployment and inflation rates change when there are demand shocks. Assume that the relationship between the output ratio and the unemployment rate, U is given by the equation U = 6.0 - 0.5 (output ..
Compute the economic profit of the firm if Sales-10000,material cost-3000,labour cost-2000, Administration cost-1000.
Elucidate the impact of the global financial crisis of 2008-2009 on the economies of industrialised countries and emerging markets. What effect do problems like these have on attitudes towards free trade.
Explain the principles of microeconomics apply to other country. Describe any differences or special situations.
Use the firm's isoquant-isocost diagram and the firm's marginal cost curve to explain and illustrate the output and substitution effects of a decrease in the price of labor.
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