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Explain how each of the following would affect the equilibrium real wage, and equilibrium level of employment.a. A relaxation of immigration laws which leads to a large increase in the number of immigrants entering the country.b. An applications of technology to education which improve the abilities of high school seniors.c. A kind of trade liberalization which makes room for all firms to export to a greater set of foreign markets.
Joan is deciding where to spend her spring break. If she goes to Cancun, Mexico, the trip will give her 9,000 utils of satisfaction and will cost her $300. If, instead, she travels to Florida, the trip will give her 5,000 utils of pleasure and w..
Exchange and markets, Demand supply and market equilibrium
At the same time dozens of low price producers started growing plants for sale. The net result was a decline in the average price of houseplants.
Describe regarding the best solution for preventing someone from making illegal copies of music files.
Determine the pros and cons of the following consequences of outsourcing decisions made by United States firms in response to increasing globalization and tougher competition in marketplace.
Suppose one economist believes the target rate of unemployment is 4.3 percent while another believes it is 5.5 percent. Using Okun's rule of thumb, by how much would you expect their estimates of potential GDP to differ in a $12 trillion economy
Illustrate what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources.
The minimum wage is used by governments as poverty fighting measure. The use of such means of creating equity among the masses does not always result in desired outcome.
P stands for price Pr stands for price of related good also N stands for per capita disposable income.
Elucidate why the U.S. would subsidize the short run cost of production for tobacco farmers in foreign countries.
Illustrate what does this tell you about the observability and accuracy of real interest rates compared to nominal interest rates.
Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $50 is imposed in this market.Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling..
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