Explain labor is a resource necessary to produce many goods
Labor is a resource that is necessary to produce many goods. "If the price of labor falls," says the economist, "the prices of goods will soon follow." How does this work?
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Ohn and Elaine, ages 29 and 28, are married and file a joint return. In addition to having TWO dependent children (Jacqueline and Jesse), John and Elaine have adjusted gross income ("AGI") of $90,000 and itemized deductions of $15,000. What is the
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Jennifer is considering a project that will produce cash inflows of $2,100 a year for 4 years. The project has a 12 percent required rate of return and an initial cost of $6,000. What is the discounted payback period?
What is Pavlina's taxable income for 2013? Assume she is single and claimed TWO dependent children, Andrew and Alexander. Assume further that Pavlina's AGI is $100,000 and that her itemized deductions are $20,000.
XYZ plating makes a product where fixed costs are $7,500 per year and it has a variable cost of $30 per unit. It can make 400 units a year and sell them for $100 each.
What would happen to the future production possibilities curve (PPC) on this graph, if today's production of capital goods exceeds the depreciation of capital?
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