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Who do you think bears the economic burden of the payroll tax, firms or workers? How does your answer depend on the relative elasticities of supply and demand for workers? Provide specific examples to support your answers.
There is a direct relationship between a growing real GDP also rising pollution. Growth provides an economic environment favorable to education also self-fulfillment.
A product sells at the rate of 5 per day and the company operates seven days per week. The order quanitity is 100. It takes 7 days for an order to be delivered. Carrying cost is $200 per unity per year. Assume safety stock is 20 units. What is the ma..
Suppose the Fedral Reserve lowers the gap between the discount rate and the federal funds rate to 0.5 percentage points. graphically illustrate this policy using the federal funds market and conclude what effect, if any, this will have on the economy..
For the closed-economy, one-period model, suppose that U (C, l) = ln (C) + β × l, and F (K, N) = zKαN 1−α , where β > 0, and 0
Select the scenarios that result in lower prices if they were to occur in isolation? If the price of substitute increased the result would be __________ prices, and we would say__________. Consumers can make costly mistakes when not enough informatio..
Compute the percentage change in price and quantity (%ΔP, %ΔQd) by adding this one room. Calculate the Price Elasticity of Demand.
Big Steve's, makers of swizzle sticks, is considering the purchase of a new plastic stamping machine. This investment requires an initial outlay of $90,000 and will generate net cah inflows of $19,000 per year for 11 years. If the discount rate is 16..
Buster Posey of the San Francisco Giants had the highest batting average in the 2012 Major League Baseball season. His average was .477. So assume the probability of getting a hit is .477 for each time he batted. In a particular game, assume he batte..
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
In the aftermath of 'The Great Recession', how would you describe the economic growth scenario for the U.S. economy? Explain your answer. Is economic growth impacted by prevailing employment/unemployment levels in the economy? Explain. Why is economi..
Suppose that Joe enjoys and repeatedly does stupid things like getting heavily into debt and insulting police officers. Do these actions constitute systematic errors? If he gets what he wants each time, are his stupid actions even considered to be er..
Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated p..
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