Economics Answers

In 2010 in the Japan, the adult population was about 46.5 million, the labor force
participation rate was 63.5 percent, and the unemployment rate was 5.8 percent. What
was the number of people employed and the number of people unemployed?

In a particular town there are 100 cars and 50 motorcycles. Each car owner has a demand curve for petrol given by: Qdc = 20 – 5p for p ≤ 4 and Qdc = 0 for p > 4. Each motorcycle owner has the following demand function for petrol: Qdm = 15 – 3p for p ≤ 5 and Qdm = 0 for p > 5. Prices are expressed as SR per gallon, and quantities as gallons per week. (5marks)

(a) Explain the advantages of using Value Added Statements (VAS) for interdivision for comparisons in decentralized firm.

the marginal product of labour function for International trading Inc. is given by the equation MPL= 10K^0.5/L^0.5 Currently the firm is using 100 units of capital and 121 units of labour. Given the very specialized nature of the capital equipment, it takes six to nine months to increase the capital stock, but the rate of labour input can be varied daily. If the price of labour is $10 per unit and the price of output is $2 per unit, is the firm operating efficiently in the short run? if not why and determine the optimal rate of labour input.

Why the 'bliss point' of circle indifferent curves always in the center of circles? Anyone can prove that with mathematic function?

demand and supply in the wheat market are given by:
QD=20-10P and QS= -5+10P
where Q is millions of cars and P is price per car.
a) Find the equilibrium price and quantity.
b) Calculate the price elasticity of demand at equilibrium and interpret your result.
c) Suppose that the government wishes to support farm income and thus sets a price of $1.50, Find the size of the farm surplus or shortage.
d) What is the cost of this program to the government?
e) If the government introduces a tax of $1, find the new supply curve and the equilibrium price and quantity.

Now consider the same economy, and the central bank sells $8 billion worth of government
bonds to local banks. State the likely effects on the money supply under reserve requirements
of:
a) 10%.
b) 15%.
c) 20%.
d) 25%.

Consider a low-wage labor market. Workers in this market are not presently covered by the minimum wage, but the government is considering implementing such legislation. If implemented, this law would require employers in the market to pay workers a $5 hourly wage. Suppose all workers in the market are equally productive, the current market clearing wage rate is $4 per hour, and that at this market clearing wage there are 600 employed workers. Further suppose that under the minimum wage legislation, only 500 workers would be employed and 300 workers would be unemployed. Finally, assume that the market demand and supply schedules are linear and that the market reservation wage, the lowest wage at which any worker in the market would be willing to work, is $1.Compute the dollar value of the impact of the policy on a. Employers b.Workers c. Society as a whole.

Find the slope of an assumed linear demand curve for garri, when Mr. Anthony purchase 1000 quantities at N200 per plastic and 500 quantities at N350 per plastic?

What are the economic principles of a globalized economy?