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1. Consider an individual facing a wage rate w. There's a total of 100 hours
available for work or leisure in a week.
(a) Represent his budget constraint graphically
(b) Represent the effect of an decrease in the wage rate
(c) Represent the effect of an proportional tax on labor income
(d) Suppose that the individual must pay a 10$ per week in taxes, regardless of how much he works. How does this affect his budget constraint?
If the price of that cup of teh-tarik has increased in such an amount,economists may not necessarily conclude that the country is going throungh inflation.why is that so?
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short run equilibrium of the industry
Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (
to what extent are interest rates determined by the economic theory
Defining black economy, If you pay your cleaner or builder in cash or for some reason neglect to tell the taxman which you were paid for a service rendered, you participate in the
State about the prices - Price level Prices are of great significance in macroeconomics as indeed they are in microeconomics. Though, in microeconomics we are more interested i
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