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use a diagram to illustrate each case. outline reasons why the marginal revenue product differs between workers in different jobs.
What are the strengths of the neoclassical models of labor supply and labor demand? What are the weaknesses of the neoclassical models of labor supply and labor demand?
Contrast the labor force participation rate with the employment-population ratio. Predict what would happen to the labor force participation rate of women if wages for women decreased. Explain.
Compare and contrast the substitution effect and the scale effects in long-run labor demand decisions. Industry A has a lower price elasticity of demand for its products than industry B.
During a recession, do employers first reduce hours or reduce employment? Explain. What might happen to labor demand for low-skilled workers if the wages for low-skilled labor increased?
Determine the price elasticity of commodity x and y. calculate the value of income elasticity. prove that x and y commodity are subtracts or compliments.
Based only on this information use a Solow Growth Model diagram to clearly and accurately show Japan's initial (1) income-per-worker, (2) actual investment-per-worker.
Is X an inferior or a normal good? How many units of good X will be purchased when Px=4910, determine the inverse demand function for good x.
During this period, a competitor offered a whopping $52 off their regular $137 price on deluxe garment bags. Calculate the cross price elasticity.
What is the Sharpe ratio of your portfolio? What is the variance of the risk free asset and the variance of the risky asset?
An upward or downward movement along a given demand curve or involves an outward or inward shift in the relevant demand curve for housing. Explain your answers.
The average price was $2.79 per gallon. Based on these numbers, what was the price elasticity of demand for gasoline from May 2010 to May 2011?
Calculate real GDP in each year, and the percentage increase in real GDP from year 1 to year 2 using year 1 as the base year. Next, do the same calculations using the chain-weighting method.
Calculate gross domestic product for the year using (a) the product approach, (b) the expenditure approach, and (c) the income approach.
If this value could be reduced to 50 days, what annual increase in income would your firm realize if the increase in cash could be invested at 7.5 percent?
You can assume any single-peaked preference you want. Characterize the equilibria of the model. Hint: The characterization should be a function of the bliss point of the candidates.
Consequently launched a very successful advertising campaign, aimed at the youth, to turn their preferences towards drinking more coffee. What occurred?
Your argument should use economic theory and empirical evidence, including additional empirical evidence. Identify and highlighting relevant economic theory and concepts. Identify appropriate empirica
However, before taking the job, you accept a surprise offer from a competitor. if you actually earn $2600 during the month, how much producer surplus have you earned? Explain.
How many workers would this firm hire? Hint: be sure that you compare the added benefits and added costs of each worker when the Cobb-Douglas production function is used.
The world market is greater than (P cloth/P machines) in the domestic market. Should it trade? If so, what commodity should it export? Why? Will it gain from trade? How do you know?
Indicate the equilibrium production and consumption point in autarky, using a PPF and a community indifference curve under increasing-opportunity-cost conditions.
What will happen to I equilibrium level of output because of this change in facto prices? What will happen to the relative usage of labor and capital because of the change in factor prices? Explain.
Explain how, with no change in budget size for the firm and with the given factor price ratio, output of the firm can be increased.
The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water. How to define a utility function?