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ASSIGNMENT -
Q1. What is the labor force?
Q2. Suppose you are able-bodied and intelligent, but lazy. You'd rather sit at home and watch television than work, even though you know you could find an acceptable job if you looked.
a. Are you officially unemployed?
b. Are you a discouraged worker?
Q3. Can you do anything to reduce the number of people in the following categories? If so, what?
a. Frictionally unemployed
b. Structurally unemployed
c. Cyclically unemployed
Q4. Does the GDP gap measure all of the costs of unemployment? Why or why not?
Q5. Why do teenagers have the highest unemployment rate in the economy?
Identify one of the determinants of productivity and provide evidence from the real world about whether this determinant is bolstering long run macroeconomic
What is the Todaro paradox? When tenant inputs are unobservable (or unverifiable), what kind of tenancy is the most efficient one (in perspective of the social planner)? Why is sharecropping tenancy so common
If the price of processor chips used in manufacturing personal computers decrease, what will happen in the market for personal computers How will the equilibrium price and equilibrium quantity of personal computers change
The Euro has had led to positive growth in income and trade to non-EU countries. Based on this statement, how did the other countries benefit from the introduction of the Euro?
Calculate the breakeven level for the subsiquent YoYo firm. The firm has overhead.
Kobe's production function for mini-basketball hoops is Q = LK. The price of labor services is w and the price of capital services is r. Suppose that w = $4, r = $2, and Kobe's total cost is $160.
1. What is Douglas Fur's fixed cost? 2. What is the ATC in the short run when 4 pairs of boots are produced? 3. Douglas fur is thinking of increasing its production from 3 to 4 pairs of boots. What would its MC be?
Suppose, that instead of holding prices fixed as we did in this problem, that prices were perfectly flexible, as in a classical world. Discuss, do not show, how your graphs would be different. Also, comment on what would happen to the government m..
How is it possible to provide causal explanations using the purely logical constructions of mathematical economics?
All Company in the industry have identical cost structures - the industry's total cost has fixed cost of 6000 and constant variable cost of 50.
i) Let B-hat denote an estimator of B that is constructed as B-hat = Y-bar/X-bar, where Y-bar and X-bar are the sample means of Yi and Xi, respectively. Show that B-hat is conditionally unbiased.
Explain how would you classify the product in terms of it's income elasticity.
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