3. what would be a good economic strategy for an area with tropical weather but few skilled
workers?

a. focus on growing high-­yield crops
b. focus on urban planning and housing
c. focus on developing education and a technology sector
d. focus on building specialized factories

the united states experienced a recession that lasted for more than a year in the late 2000s.
how did this recession most likely affect u. s. trade partners canada and mexico?

a. their economies were not affected by this problem.
b. they had some economic decline because of lower u. s. spending.
c. their economies grew because consumers could buy u. s. products more cheaply.
d. they had major economic problems because they could no longer consume the goods that they
needed.
my answer
1.b
2. c

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

From what part of income should someone take savings?

Communication comes in various forms. which of the following is considered an old form of communication? a) e-mail b) letter c) skype d) texting