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Problem
1. Suppose the supply curve for labor is backward bending over most of its range. The government now imposes a minimum wage in this labor market. What is the impact of the minimum wage on employment? Does it matter which of the two curves (supply or demand) is "more" downward sloping? Why?
2. The firm's elasticity of demand for labor is -0.4. Suppose the firm experiences an increase in productivity such that at every level of employment its output is 2 percent higher than before. What will happen to the number of workers hired by the firm?
the supply and demand for one product can affect the supply and demand for substitute items. explain and give examples.
Depreciable residential rental real property has been purchased for $70,000 and put into service during the third month of the taxpayer's tax year. For the applicable 27.5 year depreciation life. How many months of depreciation should be generated fo..
Analyze the roles of physical capital, human capital, technology, and natural resources in influencing long-run economic growth of aggregate output per capita, and how governments can contribute, or discourage long run growth through their policie..
Evaluate the soundness of GEs organizational design in terms of structure, strategic control systems, and organizational culture.
Imagine that you were the president of a merging county that is trying to reduce the number of its imports. Explain one (1) protectionist policy that you would utilize to help domestic industry over all.
select a foreign country and analyze its monetary system. research the countrys monetary system using at least five
Annual incomes for heads of household in a section of a city have approximately a gamma distribution with α = 20 and β = 1000. Find the mean and variance of these incomes.
2.Which of the following was not an influence on the Framers?
Find the long run equilibrium price of a hammer and the number of hammers made by each firm in long run equilibrium. Find the number of firms which exist in this market in the long run
What is meant by monopoly? How is price and quanitity of output determined under monopoly?
A man is planning to retire in 20 years. Money can be deposited at 8%, compounded monthly. It is estimated that the future general inflation rate will be 3% compounded annually. What deposit must be made each month until the man retires so that he ca..
Use an aggregate demand - aggregate supply demand analysis to explain the impact of the public's expectation of severe inflation on real domestic output and the price level.
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