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(Measuring Unemployment) Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent.
a. What is the size of the U.S. labor force?
b. If 85 million adults are not working, what is the unemployment rate?
a city is spending $20 million on a new sewage system. The expected life of the system is 40 years, and it will have no market value at the end of its life. Operating and maintenance expenses for the system are projected to average $0.6 million pe..
What are some of the opportunity costs of going to college? What are some of the opportunity costs a state should consider when deciding whether to widen a highway
Imagine that a contingent valuation study is done asking residents about their willingness to pay for a new Whirlydome in the twin cities metropolitan area, which has about 400,000 households. The households that were told the dome would cost them..
Assume there is one insurance plan. Consumers decide whether to enroll in this insurance plan or remain uninsured. Consumers are heterogeneous in how much they value insurance and how costly they are to insure.
the purpose of this excise is to have you confirm empirically the relationship that theoretically should occur among
A perfectly competitive firm faces a market price of $10 for its output X. It owns two plants A and B whose total costs are: TCA = 10 + 2X + .25X2 TCB = 15 + .4X + .1X2 = 15 +4 + 10 How many units should each plant produce to maximize profit at that ..
Initally, the population of Cape Despair is constant and real GDP per hour of labor is at the subsistence level of $15. Then a technological advance shifts the production function upward by 50 percent at each level of labor.What are the initial le..
A firm produces paper clips with the following production function: F(K,L) = 3K^(2/3) L^(1/3) where K is the capital used in production and L is labor used in production. The rental rate for capital is r = 24 and the wage rate is w = 6.
For tax purposes, "gross income" is all the money a person receives in a given year from any source. But income taxes are levied on "taxable income" rather than gross income. The difference between the two is the result of many exemptions and dedu..
Suppose the demand and supply schedules for rental apartment in the city of Gotham are given below Monthly Rent $2500 $2000 $1500 $1000 $500 Apartment Demanded 10,000 12,500 15,000 17,500 20,000 Apartment Supplied
Suppose an economy with a constant labor force of 85 millionworkers is in steady-state unemployment. The finding rate is 50%per month and 2.5 million workers lose their jobs every month. Whatis the natural (long-run) rate of unemployment
b. If the government establishes a price floor of $9, explain what will result in terms of excess demand or supply. c. If the government establishes a price ceiling of $6, explain what will result in terms of excess demand or supply.
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