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1) A country with a civilian population of 900,00 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3000 are structurally unemployed. On the basis of this data, answer the following questions: (show your work for credit)
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.
Bridget has a limited income and consumes only wine and cheese; her current consumption choice is four bottles of wine and 10 pounds of cheese
The dollar's exchange rates against foreign currencies became more volatile. Does our analysis of the foreign exchange market suggest any connection between these two events?
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How much would each farmer produce in the long run? How many farmers would exist in the industry in the long run and
james pizzo is president of a firm that is the industry price leader that is it sets the price and the other firms sell
Which of the following increases the political power of special interest groups and makes counterproductive government action more likelyA car sells at different prices at different dealerships in a local market. If a consumer has imperfect informa..
Estimate whether and how each of the following factors would shift demand curve for chiropractic visits; an increase in the out of pocket price of chiropractic visits.
I. Marginal revenue is the additional revenue from selling one more unit of output. II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.
Markets in developed economies are approaching saturation level. Therefore, MNCs are searching for new untapped markets in emerging countries such as India and China.
suppose that two people michelle and james each live alone in an isolated region. they each have the same resources
In the short run, a firm charges $4 per unit and sells 620 units of output. Its short run variable costs (SVC) are $2500; its short run fixed costs (SFC) are $3000; and its short run total costs are therefore $5500. From this information, we ca..
One of the fundamental differences between Keynesian and Classical economics is their view of equilibrium in the macro economy.
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