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For each of the following, indicate if the person would be classified as employed, unemployed, or not in the labour force and why: (i) a 65-year-old man who left his job and is now working as a volunteer for 10 hours a week; (ii) a university graduate who has not been able to find a position using her skills and is working as a wait-person for 30 hours a week; and (iii) a manufacturing worker who is out of a job and has given up searching for a job.
What is the effect of a lower price level, other things constant, on the aggregate expenditure line and real GDP demanded? How does the multiplier interact with the price change to determine the new real GDP demanded?
Given the formal structure of the Solow model, the numbers in the first column should in principle be per-worker GDP numbers. However, for purposes of the problem.
Suppose that the Federal Reserve System set the required reserve ratio equal to 0.2 and that the banking system holds ?$70 billion in excess reserves. If the amount of deposits is ?$3000 billion and the amount of currency holdings is ?$55 ?billion, t..
Consider the classical model of National Income. What determines the total output of the economy? Why is GDP such an important metric/variable in macroeconomics? What determines the distribution of income in this model?
A commuter drives 10 miles on a highway at 60 miles/hour, and then drives 10 miles on local streets at 15 miles/hour. Use the harmonic mean to find the average speed of the trip.
Discuss the difference between The Harrod-Domar model and the Solow growth model.
Suppose that the labor force participate rate is 79%, the total working-age population is 100 million, and the number of unemployed is 2.5 million. Determine: (i) the labor force; (ii) the number of employed workers; (iii) the unemployment rate; and ..
Suppose your retirement account has a balance today of $25000 and you are 20 years old. If you are invested in a diversified portfolio of stocks, you might hope that the historical return of about 6% continues into the future. Plot your retirement ac..
Find the case entitled In Re Samuels & Co., Inc., 526 F.2d 1238 (5th Cir. Tex. 1976). This case is in Week 5. After you have read Part 7 in the textbook (in a paragraph) discuss this case and why it comes under Section 9 of the UCC.
The conventional wisdom has been that inflation is bad for the economy. If our inflation is running higher than our trading partners' inflation, according to this argument, our growth slows and jobs are lost. Explain how the mechanism described here ..
Celeste just borrowed 44,400 dollars. She plans to repay this loan by making equal quarterly payments of 2,730.19 dollars for 25 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Ans..
Explain why setup costs are indivisibilities. Why are there likely to be economies of scale in software, pre-recorded music, films and books?
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