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1. Some economists studying the effects of the minimum wage law have found that it tends to reduce the employment of black teenagers relative to white teenagers. Briefly explain the economics behind this finding.
2.Some craft unions, such as electricians, restrict the number of workers who can join the union and then negotiate with employers to hire only union workers. Use a demand and supply graph to illustrate the effect of a craft union on employment and wages in an industry.
3.Traditionally, unions have been strongest in manufacturing industries. In the United States,
unionism reached its peak in 1945, and it has been falling since then.
a. How does the changing sectoral composition of the U.S. economy help to explain this trend?
b. Two industries in which, traditionally, unions have been very strong are automobile manufacturing and airlines. Why has union power weakened in these industries?
who file a lawsuit on behalf of the government if they believe that a company has somehow defrauded the government Securities and Exchange Commission Occupational Safety and Health Administration False Claims Act corporate philanthropy social audi..
You woke up in the morning and found a one once gold nugget under your pillow. Because you did not incur any sacrifice to obtain the gold, it seems free. Later you find out it is worth $400. If you continue to hold to the gold, rather than sell it is..
If the country imposes a specific tariff of t = 0.5 per unit of imported X, what are the equalibrium price, quanitity produced domestically, quantity consumed domestically, and quantity imported? e. Who gains and who loses fro the tariff? Does nati..
Suppose the income elasticity of demand for food is 0.5 and the price elasticity of demand is -1.0. Suppose also that Felicia spends $10,000 a year on food, the price of food is $2, and that her income is $25,000.
Select any industry with which you are familiar. Make a graph of this market in equilibrium. Provide 2-examples for industry of conditions which would change supply and two that would change demand.
Marginal benefit and marginal cost functions and explicit costs of using market-supplied resources entail an opportunity cost equal to the dollar cost of obtaining the resources in the market.
Using the results obtained above, derive a table for the long run costs of the various levels of production of sweaters (10, 20, 30, 40). The table should show: quantity, total cost, average cost and marginal cost.
Catfish farming in Louisiana is a perfect competition market. Hence, customers of catfish are getting their catfish at the minimum cost per unit of manufacturing catfish, and they are very happy.
Depict the equilibrium situation in the labor market using the Wage-Setting and Price-Setting relations and carefully label the graph. Use this model to illustrate and explain what happens to the natural rate of unemployment and real wages
If Apple reduced its price for the shuffle, what do you think would happen to their profit? What impact would the price decrease have on their competitors? Explain by considering the elasticity of shuffles).
Conduct a cost-benefit analysis of obtaining a graduate degree. Assess both the short-term and the long-term costs and benefits to determine why some people obtain the extra education while others do not.
Suppose that the goverment of the city of Udellum, wich has a Baa credit ratng issues a bond with the same time to maturity in a market that is just as liquid as the market for corporate bonds. Suppose that investors have a federal tax rate of 30 ..
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