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Are the following workers more likely to experience short-term orlong-term unemployment and explain:
Why does the aggregate demand curve slope downward?Give at least three reasons and examples when addressing thisquestion. Identify an event that would shift the AD curve and whichdirection the AD curv
Rob has an income of $10,000 this year and he expects an incomeof $13,200 next year. He can borrow and lend money at an interestrate of 10%. Consumption goods cost $1 per unit this year and thereis no
Should a government be involved in funding banks on Wall Street andlarge automakers out of debt with federal funds so they can stayout of bankruptcy? Does this help or hurt our economy andwhy?
Immigration is a major topic of concern in today’s economy. What are the possible problems and solutions for theseconcerns? What could happen to the U.S. labor markets ifimmigration is not contr
At many colleges and universities, businessprofessors receive higher salaries than professors in othersfields. Why might this be the case? Use the Internet and thereadings to answer this question and
Imagine a firm that hires two types of workers – some withcomputer skills and some without. If technology advances so thatcomputers become more useful to the firm, What happens toequilibrium wag
Suppose that an increase in the price of grapse from $1.20 to $1.40per pound raises the amount of grapes the grape farmers producefrom 1.2mil pounds to 1.6 mil pounds. Use the midpoint method, what wo
What is a budget constraint? How does a budget constraint explainconsumer choices when used in conjunction with indifference curves?Explain what happens if a household looses half of their income,usin
Why do business departments have more money than otherdepartments? What economic measures can be taken to relieve thedifferences in salaries?
Some people claim the “economic way of thinking” does not apply to issues such as health care. Explain how economics does apply to this issue by developing a “model” of a
How does a current budget deficit affect futureworkers? How could a policy by the current government to reduce thenational debt hurt these future workers?
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 per
ABC Company received the data below for its rodent cage production unit. Find the total productivity.
In a short run, a firm’s total costs of producing the hundredth unit of output equals $10,000. If it produces one more unit, its total cost will increase to $10,150.
Suppose that a firm’s only viable input is labor. The firm increases the number of employees from four to five, thereby causing weekly output to rise by two units and total costs to increase fro
Suppose that over a range of prices, the price elasticity of demand varies from 15.0 to 2.5. Over another range of prices, the price elasticity of demand varies from 1.5 to 0.75. What can you say abou
The price level of a basket of goods in 2002 was $64.00. The price level of that same basket in 2003 was $68.00. If 2002 is the base year, what was the price index in 2003?
A watch manufacture finds that at 1,000 units of output, its marginal costs are below average total costs. If it produces an additional watch, will its average total cost rise, fall, or stay the same.
Utilize a graph to demonstrate the market equilibrium price and quantity of oil at $70 per barrel and 10 M barrels being produced and sold. Then, show graphically the likely impact on this equilibrium
Why are economists concerned about the understanding or overstating potential GDP and what factors might have led potential GDP to rise in the late 1990s?
Utilize your knowledge of supply/demand analysis and show graphically the impact of a government minimum wage of $6 hour with a market wage for unskilled workers of $7 hour with 1 million workers empl
If marginal product is above the average product, what will be effect on total product, total revenue,average product and average variable costs?
Under what circumstances, and why, would the government be opposed to a merger of two firms? How does the Justice Department decide which mergers to challenge?
Explain how international trade has altered the U. S. domestic manufacturing base. How has it made it more or less competitive?