What types of unemployment are the most serious

Assignment Help Microeconomics
Reference no: EM131034219 , Length: word count:3000

Question 1-

You are an Economist and have been asked by the Gold Coast Council of Queensland to provide advice on the policy options to deal with the increasing use of jet skis on the Broadwater. The increasing use of jet skis has had an adverse effect on other water uses and people who live in the near vicinity have complained about the excessive noise.

Question 2-

You are an Economist advising the Federal Government about the Australian Labour Market and issues relating to unemployment. The issues that you have been asked to report are:

a) if the labour market is working properly why does Australia experience simultaneous periods of unemployment and job vacancies?

b) does the minimum wage prevent lower rates of unemployment?

c) what types of unemployment are the most serious? Explain your answer.

Presentation - Answers should be typed and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. The answer to the question should be divided into three parts:

Part 1 - Introduction

Provide in 'everyday language' and without reference to diagrams a summary of a correct answer to the question asked. This summary should include a succinct description of the point from where the analysis commences, the initial impact of the change in economic circumstances discussed in the question, identification of the problem(s)/issue(s) these changes create, the likely business/policy measure(s) taken in reaction to these changes, the short run and long run results of the measure(s) employed and a brief evaluation of the measures taken.

Part 2 - Analysis

Complete Part 1 and be able to recognise the correct economic theory and the associated diagram(s)/model(s) for the analysis. Be able to explain the basics of the theory and of the construction of the diagram(s)/model(s) and identify the appropriate equilibrium starting point in the context of the diagram(s)/model(s). Be able to identify the initial change in the diagram(s)/model(s) that results from the change in economic circumstances discussed in the question.

Part 3 - Conclusion

Complete Part 2 and using the diagram(s)/model(s) correctly identify the economic problem(s)/benefit(s)/issue(s) created by the change in economic circumstances and analyse if business/government should respond, what the response should be and, if a response is made,analyse the effectiveness of the response by reference to the diagram(s)/model(s) in the short-run and long-run.

Reference no: EM131034219

Questions Cloud

Tort law has become an interesting discipline : Tort law has become an interesting discipline for many scholar in the institutions of learning. What do yo understand by the term "Tort"?
The mixture pressure after equilibrium has been established : the mixture temperature and (b) the mixture pressure after equilibrium has been established. Assume constant specific heats at room temperature for both gases.
Create a job description for a common position : Using the sample job description for a medical assistant linked here, create a job description for a common position that would need to be filled at a long-term care facility for elderly people.
Who is dan pena : Who is Dan Pena and what is he all about? Whats his role in history?
What types of unemployment are the most serious : You are an Economist advising the Federal Government about the Australian Labour Market and issues relating to unemployment. what types of unemployment are the most serious
Several outside groups monitor the metro chemical corporate : Several outside groups monitor the Metro Chemical Corporation to see how well the firm enforces their ethical and social responsibility policies. Who of the following would not be likely to be among the 'watchdog' groups?
Discuss how marriage and family are viewed : Discuss how marriage and family are viewed from the three sociological perspectives
Discussion of corporate ethics : An important point to be made in the discussion of corporate ethics is: A. "when in Rome, do as the Romans." B. follow the laws of the community
Insider trading involves : Insider trading involves: A. an internet activity that establishes a barter exchange system between businesses B. investors using private company info to further their own fortunes

Reviews

Write a Review

 

Microeconomics Questions & Answers

  What is meant by monopsony power

What determines the size of the employment effect of a minimum wage increase in the model of perfect competition - What is meant by monopsony power and why might firms have it?

  Market failure occurs when an unregulated market

1. Market failure occurs when an unregulated marketa. does not produce the efficient output level.b. does not produce the optimal price and output combination.c. is missing the price for a good or service..

  Explain the use of determinants of elasticity

Why is the concept of elasticity important? What does it tell economists? Tell whether you would classify automobile production as either elastic or inelastic in the short run and long run. (Keep in mind that we are talking here about supply elas..

  Determine optimal output, price, profit and revenue

Suppose that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.

  Constructing a plant to manufacture a proposed new product

A company is considering constructing a plant to manufacture a proposed new product. The land costs $300,000, the building costs $600,000, the equipment costs $250,000, and $100,000 additional working capital is required.

  Calculate price and output under the perfectly competitive

Jay's Silk Printing Co. is located in a small university town. The major portion of their business is custom printed sweatshirts for university bookstores. As a sideline, they also retail sweatshirts locally. The local demand for sweatshirts is: Q..

  Find out implications for each of computed elasticities for

imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following

  Considering replace water heater with array of solar panels

We are considering replacing your water heater with an array of solar panels. The net installed cost of the solar panels is $1,400 ($2,000 less a 30% tax credit from the government).

  Contrast two or three key economic factors for each country

contrast two or three key economic factors for each country with the u.s. economy and comment. for example if per

  The monetary base is equal to

The monetary base is equal to

  What is the ratio of the output per worker

What is the ratio of the output per worker (assumed proportional to their wages) of a Country X that has 10 years of schooling to a Country Y that has 7 years of schooling?

  Explain the purpose of freight classification explain the

explain the purpose of freight classification? explain the differences between the rate and a rating. how do they

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