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Suppose there are 100 million workers in the economy, and full employment is defined as 96% of them being employed. Also suppose that, given current technology, each $10 billion in output employs one million workers. What is the full-employment level of output? If actual output is $850 billion, what would you expect the unemployment rate to be?
Illustrate what is that technology and how does it change the marginal and average product. Please list any sources used.
The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that unemployed have been out of work. One convenient summary measure is the median duration of unemploy..
In 2008, cruise ship lines announced they were increasing prices from $7 to $9 per person per day because of increased fuel costs. According to one analyst, fuel costs for Carnival Corporation's 84-ship fleet jumped $900 million to $2 billion in 2008..
Large number of independent loan prospects are available, each paying return of $16 on $100 with probability of 1/2 and 1/2 of $4 return. Each saver in economy derives happiness from income according to: H= I^(1/2) Competition between banks so each h..
Demand Pull Inflation: Suppose that the central bank wants to increase output, but the economy is already at the natural rate. Show the short and long run effects of a monetary expansion in this situation in the AD/AS model. You can omit the labor ma..
Explain how it can be analytically sensible to have a temporary increase/decrease in technology. Explain under which conditions/assumptions this would be very difficult to assert.
Explain why the demand for labor is a derived demand using examples from your workplace. What are some historic examples of products that are no longer demanded and what was the impact on labor?
Elucidate how you arrived at your answer and be sure to show all your calculations. Explain how many units of output will the firm produce at a price of $100 per unit
Gomez runs a small pottery firm. He hires one helper at $14,500 per year, pays annual rent of $7,500 for his shop, and spends $18,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
The LIBOR zero curve is flat at 5% (continuously compounded) out to 1.5 years. Swap rates for 2- and 3-year semiannual pay swaps are 5.4% and 5.6%, respectively. Estimate the LIBOR zero rates for maturities of 2.0, 2.5, and 3.0 years. (Assume that th..
Little confused on finding Consumer Surplus, Producer Surplus and Tax Revenue when tax is involved. I’m use to seeing the supply and demand lines extending to the y axis so i can find out the CS and PS easily by taking the area of the triangles betwe..
q1. explain the essential distinctions among the stages-of-growth theory of development the structural change models of
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