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A country with a civilian population of 100,000 (all over age 16) has 80,000 employed and 10,000 unemployed persons. Of the unemployed, 2,000 are frictionally unemployed and another 4,000 are structurally unemployed. On the basis of this data, answer the following questions:
a. What is the size of the labor force? _______
b. What is the unemployment rate? _______________________________
c. What is the natural rate of unemployment for this country? ____________________
d. Is this economy in recession or expansion? Explain.
Manages regularly face the choice of increasing advertising expense or reducing price to increase sales in the Oligopoly market structure. The finance department predicts dropping the price by $2.00 will increase sales by 3,000 to 33,000 units next y..
Moral Hazard played a major role in
competitive equilibrium, monopolists profit maximizing price and level of output, why are monopolies illegal from an economic point of view
Steve and Sons Solar Panels has a production function represented by Q=4KL, where the MP=4K and the MP=4L. The current wage rate(W) is $8 per hour, and the rental rate on capital is $10 per hour. In the short run, the plant's capital stock is fixed a..
You work for a Stock Brokerage Company (S). As part of its sales incentive program, S awards points to its salespeople for sales they make. These points can then be cashed in for vacation trips. S owns 20% of a certain fund group (M), and S's ownersh..
During the real estate boom of the mid-1990s, the price of new and existing homes rose year after year, yet people purchased more homes year after year. Is this outcome best explained as an exception to the law of demand, or is a different explanatio..
Explain why sharp decline in oil prices might not necessarily have positive or negative impact.
The profit-maximizing firm is operating in a perfectly competitive market where the market price is $100 and the marginal cost curve is determined by the equation MC = 20 + 10Q. What is the output for the firm?
Prices perform a rationing function by A. eliminating scarcity in the market. B. making sure that buyers do not have to wait for goods. C. allocating goods to the buyers who are willing and able to pay the highest price. D. allowing? high-demand buye..
Consider the economy of Lewisville, which is just beginning to industrialize. The economy was entirely reliant on corn production until now. There are 100 identical families each farming their own land. Each family has 6 members who participate equal..
A mutual stock fund has grown at a rate of 16% compounded annually since its beginning. If it is anticipated that it will continue to grow at this rate, how much must be invested every year so that $60,000 will be accumulated at the end of 12 year?
Use commercial bank and Federal Reserve Bank balance sheets to demonstrate the effect of each of the following transactions on commercial bank reserves: Federal Reserve Banks purchase securities from banks. Commercial banks borrow from Federal Reserv..
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