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The churn
The Bureau of Labor Statistics presents a forecast of occupations with the largest job decline and the largest job growth. Examine the tables at www.bls.gov/emp/emptab4.htm (for the largest job decline) and www.bls.gov/emp/emptab3.htm (for the largest job growth).
a. Which occupations in decline can be linked to technological change? Which can be linked to foreign competition?
b. Which occupations that are forecast to grow can be linked to technological change? Which can be linked to demographic change-in particular, the aging of the U.S. population?
Suppose the demand for Cardinal's World Series tickets is Qd = 48, 061 ? 2.4P (for the purposes of this problem, we will suppose that fans do not care where they sit). The Cardinals play at Busch Stadium, which has a seating capacity of 46,861. Th..
Output 1 2 3 4 5 6 7 8 9 Variable Costs $35 75 110 140 175 215 260 315 390 a. Show AFC, ATC, AVC, and MC in a table b. Graph the AFC , ATC, AVC, and MC curves c. Explain the relationship between the MC curve and AVC and ATC curves.
If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation What term do economists use to describe this s..
Before the income is spent, it can either be kept in money or bonds. Money yields no interest. Bonds yield a yearly interest of 4%, but a transaction fee of 18 has to be payed each time bonds are sold. Use the Baumol-Tobin model of money demand to ..
Your firm produces clay pots entirely by hand even though a pottery machine exists that can make clay pots faster than a human. Workers cost $80 per day and each additional worker can produce 20 more pots per day
If the plumbers now form a union, and supply their labour at a wage of $30 per hour, illustrate the new equilibrium on your diagram and calculate the new level of employment.
Suppose a business is considering purchasing a $40,000 machine whose operation will result in increased sales of $30,000 per year and increased operating costs of $10,000; additional profits will be taxed a a rate of 50%
The market supply and demand curves in a perfectly competitive market are, respectively: Qs= 400+25p and Qd= 700-50p The representative firm,in this market, has the following cost function: Q^3-7q^2=12Q+5
Maximum possible combinations of food and clothing that can be produced in a given period of time: Units of food (millions) Units of clothing (millions)Draw a PPF for this economy. b. What is the opportunity cost of moving from producing 4 mi..
Suppose there are 100 firms in the economy. Let us call them firm 1, firm 2, ..., and firm 100. For firm j (j=1,2,...,100) the labor demand (or equivalently MPN) is Nj = 1 - 0.02w where w is the real wage. Note that labor demand function for the w..
Is the fact that the yen interest rates shown never drop below zero a coincidence, or can you think of some reason why interest rates might be bounded below by zero?
Suppose that the demand equations for men and women for a particular good is as follows: Pw = 6 - (1/8000)Qw and Pm = 10 - (1/8000)Qm. If total quantity of good available is 56000, what price should men and women be charged?
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