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Suppose that the labor market has a perfectly inelastic supply consisting of union and non-union workers, and both groups of workers initially earns perfect competition. What happens at the level of the balance of work and wages for union workers if the union bargaining power drills?
a. Both Increase.
b. Employment increases and wage declines.
c. Wage increases and employment declines.
d. Both decline.
If the customer is rational explain how can use affect their economic decisions
market failure poverty and income inequalitylisted below are several summary statements from the 2010 census reportthe
In a small country model, when a tariff is added by an importing nation to the world price
How does the US Department of Agriculture calculate the official poverty level What government assistance programs does the Census Bureau consider when calculating household income What programs are ignored
What are strengthen or weaken the argument that monetary policy should be the primary tool for smoothing the business cycle.
Assume the total demand for fish and the total supply of fish per month in the Kansas City fish market are as follows:
Suppose two equally risky shares, Hi and Lo. Hi shares pay a generous dividend and offer low expected capital gains. Lo shares pay low dividends and offer high expected capital gains.
a) Illustrate the current equilibrium in a two-part diagram with the entire market in one part and an individual pretzel stand in the other. b) Now the city decides to restrict the number of pretzel-stand licences, reducing the number of stands to..
Alternatively, watermelon output could be increased by 500/month with an additional 2 tons of fertilizer/month. assuming the cost of water is $0.03/gallon and the fertilizer is $25/ton, is Van Farms using an optimal combination of fertilizer and w..
How does monetary and fiscal policy affect the economy overall? When implementing these policies, do you think the federal government has more influence on the country's economy than it should have?
What allows companies to distribute the same prescirption drugfor two different prices? Why dont competitiors undercut theirprice in the Western countries (i.e. United States)?
Elucidate the difference between the law of demand and the law of supply. What does the phrase 'other things equal" mean? Why do we need that.
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