8. Suppose the computer industry receives an initial extra income for $100. Think about the multiplier process in the first round. ii). How much income will local workers receive? O. $20 O. $25 0. $45 O. $55 FIGURE 6-1 The Urban Labor Marketesb sU 252Us5 iedW $1 gis s bnsmabadoisessroni nA chopraol brismsd 1 bobnumob od liw Labor supply dirhonbong S 1,000 chelimi2 Tests snizud binpie onbo Labor demand 25 50 75 Number of laborers in city (thousands) Monthly wage

8. Suppose the computer industry receives an initial extra income for $100. Think about the multiplier process in the first round. ii). How much income will local workers receive? O. $20 O. $25 0. $45 O. $55 FIGURE 6-1 The Urban Labor Marketesb sU 252Us5 iedW $1 gis s bnsmabadoisessroni nA chopraol brismsd 1 bobnumob od liw Labor supply dirhonbong S 1,000 chelimi2 Tests snizud binpie onbo Labor demand 25 50 75 Number of laborers in city (thousands) Monthly wage

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. Over time, increases in Potential GDP are the result of O A. inflation O B. increased government spending O C. lower taxes O D. increases in technology
Many economists argue that real GDP is Select one: Oa. not a good measure of economic well-being because it overvalues increases in leisure time. O b. a good measure of economic well-being because it includes changes in personal safety. Oc not a good measure of economic well-being because it excludes increases in leisure time. O d.a good measure of economic well-being because it includes increases in leisure time.
QUESTION 2 Which of the following is correct? O D. When MP is rising MC is falling, O B. When AP is rising MC is falling, and when AP is falling MC is rising OC. When MP is rising MC is rising, and when MP is falling MC is falling O A. There is no relationship and when MP is falling MC is rising between MP and MC
Rent / Unit m lo O Equilibrium occupancy O Market rent O Vacancy O Shortage O Interest rate D Supply Demand Existing Stock of Space Consider the figure above. Point E represents: Units of Space
5. If businesses pay higher wage rate to their workers, does it mean they will always have higher costs? Why? or why not?
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8. Refer to Figure 28-3. If the minimum wage is set at $100, how many will be unemployed? 9. Refer to Figure 28-3. If the minimum wage is equal to $125, what is the quantity of labor supplied, thequantity of labor demanded, and number unemployed? 10. Suppose the interest rate is 5% and that you are to receive three annual payments of $10,000, with the first payment one year from now, the second payment two years from now, and the third payment three years from now. What is the present value of this stream of payments?
a. How impact substitute’s assumption is applicable in Law of variable proportion? b. How the different types of return are determined in Law of variable Proportion c. Why the law of variable proportion is called Law of diminishing returns?
It approximates present value of what will be received through ownership of property, including profit. a. Market value O b. Salvage value O c. True value O d. Book Value
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