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Problem 1:
(a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this imply about the success of the government's initiative?
(b) Explain the effects of a minimum wage on monopsonised markets.
Problem 2:
Briefly write on the following (each carries equal marks):
(a) General and Specific Training
(b) Determinants of Migration
(c) Causes of Fringe Benefit Growth
What is the value proposition that Apple Pay offers consumers? How about merchants?
Does the structure of the population issue? Dependents into an economy, children as well as old people are assists by the economically active. Dependency ratio uses to measure
In June, Leslie wins a cash prize of $2,000. She plans to use this money to pay her tuition bill in September. Leslie puts this money in a savings a savings account because her mai
Explain Marris’ Growth Maximisation Model in detail. Explanation of the model Constraints Demerits
what is the immigration surplus?
A transition economy is Moving from a planned to a mixed or free market economy.
which product we choose
What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
Problem 1: (a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model? (b) Compare and contrast the functioning
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