Suppose that a consulting firm has generated the following information about the economy of Growville: (i) The current employment in export industries is 50,000; (ii) The current total employment in the city is 150,000; (iii) Export employment is expected to grow by 10,000 jobs. a. Is there enough information to accurately predict the effect of the increase in export employment on total employment? b. If you have enough information, predict the employment effect and illustrate your answer with a graph. c. If there is insufficient information, proceed with the analysis as far as you can and list the additional information you need to complete the analysis. Illustrate your answer with a graph.
Suppose that a consulting firm has generated the following information about the economy of Growville:
(i) The current employment in export industries is 50,000;
(ii) The current total employment in the city is 150,000;
(iii) Export employment is expected to grow by 10,000 jobs.
a. Is there enough information to accurately predict the effect of the increase in export employment on total employment?
b. If you have enough information, predict the employment effect and illustrate your answer with a graph.
c. If there is insufficient information, proceed with the analysis as far as you can and list the additional information you need to complete the analysis. Illustrate your answer with a graph.
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