Determine whether each scenario is an example of intertemporal substitution and label each accordingly. Panndu is a farmer in Pakistan. After a bad growing season, he decides to get another job in a local factory to make up for his lost wages. Raul is in his 60s and works in the construction industry. A new boom in property leads him to put off his retirement for another four years. Jess is a public-sector worker and mother. A decline in economic conditions means her wages are cut by 30% . As a result, she decides to quit her job and focus on raising her child. Colin works in a DVD factory and gets paid the minimum wage. The government decides to reduce the minimum wage from $7 per hour to $5 because of poor economic conditions. Colin decides to work extra overtime to make up for his fall in wages. Answer Bank
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Business, 22.06.2019 12:50
Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.
Answers: 3
Business, 22.06.2019 13:20
Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.
Answers: 1
Business, 22.06.2019 17:00
Dan wants to start a supermarket in his hometown, and wants to get into the business only after finding out about the market and how successful his business might be. the best way for dan to gain knowledge is to:
Answers: 2
Business, 22.06.2019 17:30
You should do all of the following before a job interview except
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Determine whether each scenario is an example of intertemporal substitution and label each according...
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