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The rate of unemployment below which the rate of inflation tends to rise and above which the rate of inflation tends to fall is known as the A) Phillips rate of unemployment. B) contrary rate of unemployment. C) non-accelerating-inflation rate of unemployment (NAIRU). D) menu cost rate of unemployment.
Heidi spends all her income on going to movies, regardless of her income level or the price of movie passes. What is her income elasticity of demand for movie passes? What is her price elasticity of demand for movie passes?
Illustrate what was the growth rate of the GDP deflator between 1999 and 2000. Elucidate what was real GDP in 1999 measured in 1996 prices.
Assume that all firms want to maximize profits, and that the price mechanism is allowed to freely fluctuate based upon market supply and demand. Appraise this statement: A monopolist will charge a lower price and produce a higher quantity of a good t..
If air quality improves however re are no effects on aggregate production or on market costs of final goods and services. Illustrate what would happen to GDP.
In the article "How Racism Doomed Baltimore," in the New York Times, the author argues that rather than reflecting a history of racial discrimination policies, the problems in Baltimore stem primarily from the actions of a few rogue police officers. ..
Farm workers in Oaks Farmville face a 1/198 probability of death at work and each of them receives a yearly wage of $61,000. Farm workers in Valley Farm face a 1/54 of death at work. Assume that both kinds of job require the same level of skills, eff..
An engineer is considering the purchase of a copy machine for his/her consulting office. The copy machine will cost $2,000 and have a resale value of $400 at the end of its 5-year life. Having the machine in the office will reduce copy costs by $1,00..
Provide some examples of discrete and continuous variables. What attributes of these variables make them discrete and continuous? Why?
Intra-industry trade may be associated with a smoother adjustment process than inter-industry trade because
A company sells two products, A and B. The demand for product A is given by DA and the demand for product B is given by DB. The price for product A is given by PA and the price for product B is given by PB. The company needs to determine the selling ..
Because of the high costs to the "frequent flyers", what should the responses departments/communities be to balance the needs of the many with the needs of the few?
Donna buys goods X and Y. She can just afford the bundle X = 6 and Y = 11. She can also afford X = 12 and Y= 8. Each of these bundles exhausts her income. Draw Donna’s budget line. What is the ratio of the price of x to the price of y?
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