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Consider an economy where people can be either employed (e) or unemployed (u) . Let’s normalize e+u=1 , so that at any given point in time, e is the fraction of people employed. Conditional on being employed today, the probability of getting fired is x ; and conditional on being unemployed today, the probability of finding a job is w .
(a) What is the employment rate tomorrow (et+1) if today’s employment rate is (et) ?.
(b) Derive the stationary rate of unemployment u in term of x and w .
(c) Suppose we find in the data that w= 0:8 and x= 0:10 , what is the stationary employment rate e?
Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. Elucidate what might cause these fluctuations in supply.
Illustrate what are the benefits also the costs. Under Illustrate what conditions would you advocate for trade restrictions.
Compare the total costs in parts a and b. If the government does not know the cost of pollution reduction for each firm, is there still some way to reduce pollution to 50 tonnes at the total cost calculated in part a?
You are considering adding a new food product to your store for resale. You are certain that, in a month, minimum demand for the product will be 5 units, while maximum demand will be 8 units.
Brand X contains 20, 2 and 1 units of the minerals, while Brand Y contains 4, 1, 2 units of the minerals respectively. Brand X costs $18 per kg while Brand Y costs 6 per kg.
In a study of vehicle ownership, it has been found that 31% of U.S. households do not own a vehicle, with 48% owning 1 vehicle, and the remaining owning 2 or more vehicles. When testing (at the 10% level of significance) whether the vehicle-ownership..
What is NIEO (pp. 130-137)? What major demands did the Third World countries put forward? Are these demands reasonable? What major forces have shaped the development process for LDCs? How do these forces create tensions between the South and the Nort..
NPV and IRR: Under which circumstances can the NPV and IRR calculations lead to conflicting results? Differences: What is the major reason for the difference? Preferable Methods: Which of the two methods is preferable? Why? Use examples and plots wit..
Assuming which the budget stays the same except for the interest on the debt for 10 yrs which will be accumulated debt
Most economists believe that, in the short run, an increase in the money supply will
Given the difficulties which the regulation of public utilities faces that would it not is better to nationalize public utilities as several European countries have done.
Under the conditions of monopolistic competition:
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