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a) The current unemployment rate is 4.6% and the number of people in the labour force is 266,478.Use this information to find the following.
i. How many people are unemployed?
ii. If the working age population is 366,547, what is the labour force participation rate?
b) Suppose that the size of the labour force decreases by 20,000 people. What would happen to the unemployment rate? Assume that the number of people unemployed does not change. Explain your answer by referring to the relevant equation.
c) Levi lost his job in the factory he worked in as the factory lost its competitiveness in the domestic market over cheap imported products. Levi now cannot find a job that utilizes his skills. Is Levi frictionally unemployed, structurally unemployed or cyclically unemployed? Explain your answer.
How can we measure quality health care objectively? What parameters should we measure?
Regulation of monopolies-A monopolist hospital faces the following demand curve for diabetes screening: Pd=100-2Qd where Pd is price of delivery and Qd is the demand for delivery in a hospital. The hospital’s is MC=Q for deliveries and the fixed cost..
An article in the Chicago Tribune stated that in 2007, college costs rose faster than inflation and student aid. A report by the College Board found that average in-state tuition and fees at four-year public universities rose 6.6% to $6,185. What wou..
Norrath is a place in the online game EverQuest II. It is a virtual world with roughly 350,000 players "arrayed over worlds that are tethered to dozens.
Regardless of the changes in the price of apples, Mr. Jones always spends $50 per week on apples. What is the elasticity of his demand for apples?
Assume an economy where there are two producers: a wheat producer and a bread producer. In a given year, the wheat producer grows 30 million bushels of wheat of which 25 million bushels are sold to the bread producer at $ 3 per bushel, and 5 million ..
True/False questions: The Durbin-Watson (DW) statistic is used to detect first order-serial correlation. Positive lag 1 residual autocorrelation is associated with DW values greater than 2. Autocorrelation exists when successive observations over tim..
If the two firms could collude and agree on Explain how to split the total profits, Illustrate what outcome would they pick.
q1. a luxury good is a good for which the income elasticity exceeds one. the demand for a luxury good is given by qd x
The long run equilibrium price level, however, remains unchanged at 120. By how much (in real dollars) has the long run aggregate supply curve shifted.
Penguin Pucks Inc has current assets of $2238, net fixed assets of $9117, current liabilities of $1732 and long-term debt of $4114.
You purchased a bond for 9500 dollars. The bond matured in 4 years and you sold it for 111,000 dollars. The par value (face value) of the bond was 10000 dollars. Interest payments were made every 6 months. The personal rate of return you received (so..
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