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Explain why each of the following statements is Uncertain according to economic principles. Use diagrams where appropriate
When the economy goes into recession a government that is interested in shortening the duration of the recession should "tighten its belt" and reduce spending to match the decrease in its tax revenues.
Neoclassical growth theory implies that a $100 million investment in a poor country (one with a small capital stock) will increase GDP in that country by more than a similar investment in a rich country.
In the short run changes in GDP can be thought of as stemming from changes in the employment rate of labour, while in the long run, changes in GDP can be thought of as stemming from changes in the labour force and/or changes in labour productivity (output per employed worker).
In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we changea. income and hold everything else constant. b. the price of a close substitute and hold everything else constan..
Depict an isoquant map depicting a typical firm's use of two inputs - white and black labor. Label its slope. What would be the effect of an increase the price of black labor from $12 to $13 and a decrease in the price of white labor from $13 to $12..
Explain what is meant by the hedonic wage function for a job characteristiv such as the probability of an injury. Go on and explain how the function can be deruved from worker prefernces and production technologies.
Individuals exchange commodities subject to the cash-in-advance constraint \(pz
Two employees will be hired at $10.00/hour/employee (including overhead and benefits). Each employee will work an average of 170 hours per month. The average revenue per customer is estimated at $7.00. The variable cost of serving each customer is..
Why does the assumption of independence of risks matter in insurance What would happen to premiums if the probabilities of houses burning were positively correlated Can you think of a situation where they might be negatively correlated
As part of your answer explain what happens when aggregate expenditure either exceeds or falls short of output in the current period and what impact this has on production in the next period.
When the CR = 80%, is the market efficient when the market behavior follows the price leadership model?
Show what happens to producer surplus, worker surplus and the gains from trade as workers migrate from a low- wage to a high- wage region. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the r..
Project labor authorization for January 2017 and What is the estimated budget for the recruitment exercise if the estimated cost of recruiting one employee during the period would be k1500.
The Fed took a somewhat more hawkish view of inflation than it did in the March statement. Today's statement made specific reference to inflationary pressures, saying that energy and other commodity prices have increased, an acknowledgement absent..
Can forest harvesting still be ine?cient even where tenure is given on a individual basis and is secure. Why or why not.
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