Q: Draw a labor market for un-skilled labor assuming demand is perfectly inelastic. 8b. Insert a minimu...
A: Perfectly inelastic for the unskilled labor demand would be estimated to be vertical. It is define...
Q: Why does GDP depend on productivity in the long run?
A: Gross domestic product (GDP) is the monetary value of all final goods and services produced within a...
Q: 9. In a competitive market, the quantity of a product produced and the price of the product are dete...
A: Market: Market refers to the place where the buyers and sellers of the goods and services come in cl...
Q: Consider a simple economy that produces two goods: pens and erasers. The following table shows the p...
A: Nominal GDP is the market value of all final goods and services produced by a nation at the current ...
Q: 4.2 I dont understand how im supposed to do this without any numbers to use
A: In this case the rule of 70 is used.The rule of 70 basically estimates the number of years in which ...
Q: Average labor productivity tends to be a coincident variable. Examine Figure 3.15 care- fully. Durin...
A: A coincidental variable is used and analysed as it occurs. A coincidental variable is generally used...
Q: hey i was doing my homework and i couldnt figure out this one. please help
A: The average total cost is equated at an equal average fixed cost in addition to the average variable...
Q: Question 24 Consider the following production function when K is fixed. (This is a description of th...
A: False, the production function does not satisfy the law of decreasing marginal returns to labor.
Q: Based on the impact of a drop in the discount rate on the supply of money in the market. select an e...
A: Money supply: It is the total stock of money in circulation at a point in time and the money supply ...