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After two quarters of increasing levels of production, the CEO of Canadian Fabrication & Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired. Believing that the new workers were either lazy or inefficiently supervised (or possibly both), the CEO instructed the shop foreman to "crack down" on the new workers to bring their productivity levels up.Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.Provide an alternative to cracking down as a means of increasing the productivity of the sheet metal workers. Fully explain your alternative in terms of production theory.
Illustrate what are institutional arrangements. Why are they considered important fundamental determinants of economic growth and development.
Differentiate at least two different eighteen month forecasts for Gross Domestic Product (US) and graph them. Include a reconciliation of differences between forecasts for GDP and a rationalization for which forecast you believe is most accurate.
Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $6 and faces the demand curve given in the following table:
Show that leisure must be a normal good for the labour supply function to be downward sloping.
What is the present value of $300 to be paid in two years if the interest rate is 12%? What happens to reserves at Third National Bank if one person withdraws $2,000 of cash and another person deposits $750 of cash?
The consumerís after tax wage is now (1 t)w. Explain the e§ect of the new tax on the consumerís consumption and hours of work. In your answer, provide a graphical analysis illustrating the consumerís optimal choice of consumption and leisure befor..
If my comapny operates in a competitive market and competes with many other domestic and foreign firms.
Explain how a change in investment can have big impact on GDp causing nationwide slump. Recall that investment is "small' relative to the whole economy.
Assume an airline flying on the Charlotile - Chicago route has estimated the demand curves for three different types of customers: business
Illustrate what is the relationship between the trade situation, the value of the dollar, the national debt and the budget deficit/surplus.
Suppose that there are 1,000 hot-pretzel stands operating in Toronto.Each stand has the usual U-shaped average total cost curve.
The nation is divided into __12______ Federal Reserve districts, each having a Federal Reserve Bank.
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