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On a graph with time on the horizontal axis and yt on the vertical axis, draw the evolution of output per worker over time. Does output per worker grow in the long run? Explain why or why not.
Business Economics, Economics
In a certain city, a school administrator hypothesized that students enroll in school within 5 km from their homes. To check this claim you asked 30 student from the said city and you found that the mean distance between ...
Suppose that a firm had a production function given by: q=L0.25K0.75. The wage rate (w) is $5 and the rental rate (r) is $10. Calculate the amount of labor the firm would hire when it produces 400 units of output in a co ...
1. What are the modern, firm-based international trade theories? 2. Describe how a business may use the trade theories to develop its business strategies. Use Porter's four determinants in your explanation. 3. What is th ...
Assume you are working at the Consumer Protection Agency. Recently, you have been getting complaints about the highway gas mileage of a new minivan. The car company agrees to allow you to select randomly 40 of its new mi ...
Now assume that a country A takes 100 hours to produce 20 aircraft or 10 jet engines and country B takes 100 hour to produce 15 aircraft or 5 jet engines. Which country has an absolute advantage in which product? Does ei ...
A worker earns $15 per hour at a plant and is told that only 2.5% of all workers make a higher wage. If the wage is assumed to be normally distributed and the standard deviation of wage rates is $5 per hour, the average ...
Please discuss the following: As demand increased for these mortgage backed securities, lenders reacted by relaxing their approval standards to increase production. No longer were "all" borrowers required to document the ...
What does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?
Maureen has preferences for two goods to be consistent with the utility function. The price of good 1 is $4 each, and the price of good 2 is $12 each. For what incomes will good 1 be normal?
True and False Question and need to explain it The theory of comparative advantage states that trade arises due to different amounts of labor and capital in a country. What arises trade in neo-classical model and o-h mod ...
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