In​ Korea, real GDP per hour of labor is​ $22, the real wage rate is​ $15 per​ hour, and people work an average of 46 hours per week. In the United​ States, real GDP per hour of labor is​ $51, the real wage rate is​ $34 per​ hour, and people work an average of 34 hours per week.
  
Draw the Korean demand for labor curve. Label it
LDK.
Draw the Korean supply of labor curve. Label it
LSK.
Draw a point at the Korean equilibrium real wage rate and employment level.
Draw the U. S demand for labor curve and label it
LDUS.
Draw the U. S. supply of labor curve and label it
LSUS.
Draw a point at the U. S. equilibrium real wage rate and employment level.  
  

The text states that the committee “expects inflation to rise gradually toward 2% over the medium term as the labor market improves further….” why would the fomc expect inflation to rise because of improvements in the labor market?

Following is a list of various costs incurred in producing replacement automobile parts. with respect to the production and sale of these auto parts, classify each cost as either variable costs, fixed costs, or mixed costs. 1. oil used in manufacturing equipment 2. plastic 3. property taxes, $165,000 per year on factory building and equipment 4. salary of plant manager 5. cost of labor for hourly workers 6. packaging 7. factory cleaning costs, $6,000 per month 8. metal 9. rent on warehouse, $10,000 per month plus $25 per square foot of storage used 10. property insurance premiums, $3,600 per month plus $0.01 for each dollar of property over $1,200,000 11. straight-line depreciation on the production equipment 12. hourly wages of machine operators 13. electricity costs, $0.20 per kilowatt-hour 14. computer chip (purchased from a vendor) 15. pension cost, $1.00 per employee hour on the job

1. descriptive statistics quickly describe large amounts of data can predict future stock returns with surprising accuracy statisticians understand non-numeric information, like colors refer mainly to patterns that can be found in data 2. a 15% return on a stock means that 15% of the original purchase price of the stock returns to the seller at the end of the year 15% of the people who purchased the stock will see a return the stock is worth 15% more at the end of the year than at the beginning the stock has lost 15% of its value since it was originally sold 3. a stock purchased on january 1 cost $4.35 per share. the same stock, sold on december 31 of the same year, brought in $4.75 per share. what was the approximate return on this stock? 0.09% 109% 1.09% 9% 4. a stock sells for $6.99 on december 31, providing the seller with a 6% annual return. what was the price of the stock at the beginning of the year? $6.59 $1.16 $7.42 $5.84