Prediction of the short run effects of this policy

Assignment Help Business Economics
Reference no: EM13859972

NY state will soon implement a $15/hour minimum wage for fast food workers. What is your prediction of the short run effects of this policy? What is your prediction of the long run effects?

Reference no: EM13859972

Questions Cloud

What was the us consumer savings rate : What was the U.S. consumer savings rate in 2002, 2007, 2010, and 2013? Do self-esteem rating scales differ between teenagers who live in two-parent households versus those who live in single-parent households
Average inflation rate of country : Between 1970 and 1976, average inflation rate of Country X was about 35 percent per year. With that rate of inflation, prices would double about every ________ using the rule of 70.
Negative production externality : Suppose that demand for a product is Q = 1000 – P and supply is Q = 9P. Furthermore, suppose that the marginal external damage of this product is $20 per unit. Suppose this is a negative production externality. Calculate the Q currently being produce..
Derive an expression for marginal costs : Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies? At what production level are scale economies exhausted?
Prediction of the short run effects of this policy : NY state will soon implement a $15/hour minimum wage for fast food workers. What is your prediction of the short run effects of this policy? What is your prediction of the long run effects?
Demanded after the new copayment is put into effect : Currently, there is a $0.50 copayment on drugs. The HMO has decided to raise this to $1.00 per prescription. The cost of a prescription is $6.00, which mean the HMO's contribution to the total cost will fall from $5.50 to $5.00. How much will be dema..
Discuss an example of positive method : What is a duty that managers owe to the corporation? Discuss an example of a positive method that the manager may uphold that duty. Provide an example of an act or omission that depicts a manager violating the duty.
Change the individual demand curve for aspirin tablets : Indicate how each of the following factors will change the individual demand curve for aspirin tablets:
Foreign exchange policy to maintain the value of the yuan : Based on discussions surrounding the controversy over the value of the Chinese yuan in foreign currency markets, is China still using central bank foreign exchange policy to maintain the value of the Yuan? What is the current policy of the United Sta..

Reviews

Write a Review

Business Economics Questions & Answers

  Qwhile the primary focus of the final project should be on

q.while the primary focus of the final project should be on your firms worldwide operations integrate information on

  Determine whether production function exhibits

Determine whether the following production function exhibits constant, increasing, or decreasing returns to scale

  Characteristic of competitive markets permits society

Which characteristic of competitive markets permits society to answer the illustrate what to create question efficiently.

  Change in the amount of money transferred

Why a change in the way government might makes transfers to the poor change the poverty rate even if there is no change in the amount of money transferred?

  Why the aggregate demand curve is negatively sloped

Calculate GDP loss if equilibrium level of GDP is $10,000, unemployment rate 8.8%, and the MPC is 0.75. How much money should the government spend to eliminate this GDP loss? List three reasons why the aggregate demand curve is negatively sloped (dow..

  Explain why moodys decreasing the risk for these countries

Explain why moody's decreasing the risk for these countries for example BBB BH and Cairo BBB how create this action by international instiutions effect international.

  How does that revenue compare to her economic losses

Beatriz enjoys writing and uses a large amount of paper. Currently, paper costs 2 cents per sheet. The formula for her demand curve is S = 52500 – 5000PS, where PS is the price of and S is the number of sheets purchased. The governor of her state pro..

  After-tax equilibrium by adjusting value in quantity field

The following graph shows the daily market for wine when the tax on sellers set at $0 per bottle. Suppose the government institutes a tax of $5.80 per bottle, to be paid by the seller. (Hint: To see the impact of the tax, enter the value of the tax ..

  Assumes rational behavior from actors consumers-suppliers

Neoclassical economics assumes rational behavior from actors (consumers and suppliers) as well as profit maximizing behavior. These assumptions make sense (do we want to assume people are irrational - how do you study that) but are they real.

  Explain the future consequences of this action on economy

explain the future consequences of this action on the economy and the inflation rate. Please indicate the documentation on your research.

  A license to sell anothers products

A license to sell another's products or to use another's name in business is called a

  Use several alternative discount rate values

Use several alternative discount rate values (1% to 10%) to investigate the sensitivity of the present value of net benefits of the dam in exercise (1) to the assumed value of the real discount rate. Determine the "breakeven" value of the discount ra..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd