Q: Discuss the levels of economic integration and indicate which level best describes the CARICOM Sin...
A: Economic integration as the name suggests is the agreement between the countries to reduce their tra...
Q: Why do most investors hold diversified portfolios?
A: "Don't put all your eggs in one basket" This adage very well captures all the essence of diversifica...
Q: Graphically present the effect of technological change on production and explain it briefly
A: The production function of the firm shows the maximum amount of output that a firm is able to produc...
Q: fast 26-Which of the following increases the demand for foreign exchange? a. Import of capital to...
A: The exchange rate determines the rate at which one currency can be traded for another. Therefore, it...
Q: In the figure below, the change in demand and cost in the Sweezy model is examined. Explain the basi...
A: Oligopoly demonstrates a market setting where a small number of business organizations exists. Some ...
Q: Can i get some help please?
A: Budget line: - it is the graphical representation of different combinations of two goods that a cons...
Q: 22. What is the rate of Inflation in 2016 if the consumer Price Index (CPI) at the end of 2015 was 1...
A: CPI is measured using fixed basket of goods.
Q: Please answer all questions
A: Trade war: The trade war between the US and China has already harmed the European economy. To put fu...
Q: Which of the following is most likely to be true if the rate of inflation rises sharply? a. Busines...
A: Inflation refers to an increase in the general price level in an economy over a period of time. It m...
Q: 25. Which of the following is the formula for calculating the unemployment rate? a.(Number of unempl...
A: Labor force = employed+unemployed
Q: The British pound (GBP) falls in value relative to the dollar. Consider a U.S. bank with a European ...
A: The Exchange rate between two currencies is defined as the rate at which the currencies are traded f...
Q: The initial investment amount of an investment is 800 Million TL and the expected net cash flows for...
A: Net present value is the difference between two components such as the present value of cash flow an...
Q: Which of these methods to control inflation is related to monetary policy? a. setting price ceiling...
A: Fiscal policy is the policy which is implemented by the government of the nation. Hence, charge of f...
Q: Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for p...
A: Bundling refers to the process that firms sell one or more goods with the specified selling good. Fo...
Q: Discuss the difference of market structure in Malaysia. Illustrate your answer with appropriate exam...
A: Meaning of Money Market: The term money market is different from that of a normal market, as under...
Q: Aside from money supply, the Central Bank can also cause ________. a. increases in the employment ...
A: The central bank of any nation has the sole authority to control and regulate monetary policies. Mor...
Q: I need solution . you do it before but cant do this section which i mention now i need complete solu...
A: a is the autonomous consumption. That is, consumption that is necessary for sustenance and independe...
Q: 28. In the long nun, the incidence of a sales tax in an industry with constant returns to scale is a...
A: The incidence of tax would be the first point of effect of the tax imposed which would affect the we...
Q: i need in your own words point to point answer Why does the aggregate demand curve slope downward an...
A: The economy is said to be in its long-run equilibrium position at a point where all the three curves...
Q: What happens to the amount of money demanded or supplied in each of the following cases? Draw a sepa...
A: Money can either be saved, spent or invested. "Money supply refers to the total amount of money avai...
Q: Please algebraically explain which stylized facts of economic growth can be explained by Solow growt...
A: Solow Model explains the following stylized facts of growth or Kaldor Facts (named after noted econo...
Q: These are areas in a country which is exclusively built near ports where industries can settle and e...
A: The tax is the charge or free imposed by the government on goods and services. The government decrea...
Q: 10. Refer to the payoff matrix below. Which outcome reflects the dominant strategy? University Subs ...
A: The dominant strategy for the given payoff matrix is calculated as follows.
Q: Explain what will happen as a result of the following events. In each case, draw an aggregatedemand ...
A: a) The economy is in a recession. An increase in government purchase will shift the aggregate demand...
Q: What happens to the amount of money demanded or supplied in each of the following cases?Draw a separ...
A: If the central bank is selling securities, then it is essentially extracting money out of the system...
Q: Assume the information below to answer the following questions about the land of POGO. Assume a 2% ...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for yo...
Q: Income aproach Table 2 Items RM (Millions) Wages and salary 1,050 Rent 850 In...
A: 1. Gross Domestic Income: The Gross Domestic Income is the sum total of all the income received by a...
Q: What is importance of financial markets for the productive capacity of the economy?
A: Investment is the amount of new capital commodities such as plants and machinery that business firms...
Q: The FGT0 measure does not reflect the depth of poverty below the poverty line. [6] (i) Suggest a spe...
A: The FGT indices or the Foster–Greer–Thorbecke indices are a group of indices used to measure poverty...
Q: What is efficiency in economics?
A: Meaning of Economics: The term economics refers to the situation under which there remain transact...
Q: 35. Which of the following is the formula for calculating the real GDP per capita? a.Total national ...
A: Real GDP is the value of goods and services measured using constant sets of prices.
Q: 4) Why will a firm never plan to supply an output at which it has increasing returns to scale?
A: An increasing return to scale refers to the scale that occurs when the output rises by a larger prop...
Q: 1. Fill in the blanks. I. CBR is 17 per 1000, Births are 470,900. Find the mid-year population. II. ...
A: CBR Stands for Crude Birth rate:- refers to the number of resident live births for a specified geogr...
Q: When the exports are less than imports, then there will be ___________. a. Budget surplus b. negat...
A: Exports represent goods and services produced in one country, sold or provided to residents in a for...
Q: not copy paste Explain and discuss how monopoly pricing targets to capture consumer surplus. In you...
A: Meaning of Monopoly: The term monopoly refers to the situation under which there is only an indivi...
Q: A change in investment spending can affect supply as well as demand. However, supply will not be af...
A: Factors affecting supply:- 1) Change in price of factors of production. 2) Technological advancemen...
Q: Expenditure Approach Table 3 Items RM Million Subsidies 4,500 Factor Payments Receiv...
A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts fo...
Q: When China’s clothing industry expands, the increase in world supply lowers the world price of cloth...
A: The market is in equilibrium when the demand is equal to the supply of a product. In an open economy...
Q: QUESTION 1 An economy produced the following: Year 2017 2018 Quantity of Bread 100 200 Price of Brea...
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...
Q: According to the law of demand, what is the relationship between price and quantity demanded? O no r...
A: “Since you have posted a question with multiple parts, we will solve only the first parts for you. T...
Q: 47. Every economy is striving hard to update and improve their paper currency to protect it from cou...
A: Fiscal policy is the policy which is implemented by the government of the nation. Hence, charge of f...
Q: If the economy begins at an equilibrium at potential output, a negative aggregate demand shock has w...
A: The equilibrium price level and output in an economy are determined by the aggregate demand and aggr...
Q: What is the best combination of fiscal policies and monetary policies for a country like Japan whose...
A: The aggregate demand (AD) and aggregate supply (AS) model explains the marker equilibrium where the ...
Q: The Government of Pakistan is committed to the priorities for advancing on implementation of the Chi...
A: China Pakistan Economic Corridor (CPEC) is a project in which china Going to Invest a huge amount in...
Q: . Discuss the pros and cons of individual farming in small holdings and co-operative farming.
A: Individual Farming in small holdings refers to farming at a small scale farm with mixture of crops. ...
Q: 1. What is profit? What is the difference between accounting profit and economic profit?2. What is t...
A: In a financial year, each firm /industry earns some revenue. Profit is the amount remaining from the...
Q: Critically evaluate the importance of the Marshall- Learner condition in the stability of the foreig...
A: The foreign exchange market is the over-the-counter market that determines the exchange rate of vari...
Q: The data below shows the various production possibilities for an economy that produces two goods, ca...
A: Hi Student, Thanks for posting the question. As per the guideline, we are providing the answer for t...
Q: Comprehensively and clearly discuss the working of the Kenyan economy based on the circular flow in ...
A: The national income circular model would show a relationship between the various economic agents in ...
Q: Can you answer the questions, please? I do not need an explanation, I need only a correct answer. 45...
A: International trade allows nations to interact with one another via import and export of goods and s...
Derive labor
Step by step
Solved in 2 steps with 1 images
- Hospitality Hotels forecasts monthly labor needs.(a) Given the following monthly labor fi gures, make a forecastfor June using a three-period moving average and a fi veperiod moving average. Month Actual ValuesJanuary 32February 41March 38April 39May 43 (b) What would be the forecast for June using the naïvemethod?(c) If the actual labor fi gure for June turns out to be 41, whatwould be the forecast for July using each of these models?(d) Compare the accuracy of these models using the meanabsolute deviation (MAD).(e) Compare the accuracy of these models using the meansquared error (MSE).Explain how the wage can adjust to balance thesupply and demand for labor while simultaneouslyequaling the value of the marginal product oflabor.1. Supose that·Total Factor Productivity increases·Capital depreciates by 10%Everything else equal, what happens to labor demand in the economy?A. It decreases (i.e. shifts to the left of the demand curve)B. It increases (i.e. shifts to the right of the demand curve)C. Not enough information to answer 2. Does an increase in the wage causes leisure always to increase, because leisure is a normal good?A. YesB. NoC. Only if the substitution effect dominates the income effectD. Only if the income effect dominates the substitution effect
- Consumption when young and consumption whenold are both normal goods for Seymour, a workersaving for retirement. When the interest rate falls,what happens to Seymour’s consumption when old?a. It definitely increases.b. It definitely decreases.c. It increases only if the substitution effect exceedsthe income effect.d. It decreases only if the substitution effectexceeds the income effect.t is a general belief in the United States that time is _____. an expenditure sufficeint flexible a commodityCowles Foundationfor Research in Economicsat Yale UniversityCowles Foundation Discussion Paper No. 2021ARE WE APPROACHING AN ECONOMIC SINGULARITY?INFORMATION TECHNOLOGY AND THE FUTUREOF ECONOMIC GROWTHWilliam D. NordhausSeptember 2015An author index to the working papers in theCowles Foundation Discussion Paper Series is located at:http://cowles.yale.edu/This paper can be downloaded without charge from theSocial Science Research Network Electronic Paper Collection:http://ssrn.com/abstract=2658259Electronic copy available at: http://ssrn.com/abstract=2658259Are We Approaching an Economic Singularity?Information Technology and the Future of Economic GrowthWilliam D. Nordhaus1September 1, 2015AbstractWhat are the prospects for long-run economic growth? The presentstudy looks at a recently launched hypothesis, which I label Singularity.The idea here is that rapid growth in computation and artificialintelligence will cross some boundary or Singularity after whicheconomic growth will…
- Shelly’s preferences for consumption and leisure can be expressed as U(C, L) = (C - 200) * (L - 80) This utility function implies that Shelly’s marginal utility of leisure is C - 200 and her marginal utility of consumption is L - 80. There are 168 hours in the week available to split between work and leisure. Shelly earns $5 per hour after taxes. She also receives $320 worth of welfare benefits each week regardless of how much she works. a. Graph Shelly’s budget line. b. What is Shelly’s marginal rate of substitution when L = 100 and she is on her budget line? c. What is Shelly’s reservation wage? d. Find Shelly’s optimal amount of consumption and leisure.Consider the following labor-leisure choice model. U(C,L) = C^2/3L^1/3 C = wN + π – T H= N+ L Where C: consumptionL: leisureN: hours workedH = 50 : total hoursw = 4 : hourly wageπ = 20 : non-labor income T = 10 : lump-sum tax Suppose the hourly wage changes to w = 5. Perform a decomposition and fill in the table C L N Substitution Effect Income Effect Total EffectImagine a firm that employs two types of workers – some with computer skills and others withno technology related skills. (i) Explain how a firm’s production function is related to its marginal product of labour, howa firm’s marginal product of labour is related to the value of its marginal product and how afirm’s value of marginal product is related to its demand for labour. (ii) Explain how the wage can adjust to balance the supply and demand for labour whilesimultaneously equalling the value of the marginal product of labour.
- hy does a measure of labor productivity—the output produced per worker– rise for many firms during recessions? During the boom years period of 2005through November 2007, the annual average output per worker was lower in U.S.manufacturing than during the Great Recession of 2007–2009 as well during therelatively low-demand years since then through 2013.Firms produce less output during recessions as demand for their products falls.Consequently, firms typically lay off workers during recessions. Thus, whetheroutput per worker rises or falls depends on whether output or employment fallsby more. The labor productivity pattern over the business cycle differs across in-dustries. If we know about a firm’s production process, can we predict whetheroutput produced per worker will rise or fall with each additional layoff?Currentlyyouworkfor40hoursperweekatthewagerateof$20anhour.Your free hours are defined as the number of hours not spent in work per week, which in this case is 24 hours × 7 days − 40 hours = 128 hours per week. Suppose now that your wage rate has increased by 25%. If you are happy to keep your total weekly income constant, how many hours will you work? How many free hours will you have?marginal principe a)Derive the equal marginal principle. (i)What dose it state?(ii) can you generalize the principal? Show it for n commodities wher n = 1,2,....n
