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_________ occurs when a city is unable to supply adequate jobs and housing for its inhabitants.
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- describe a decline in purchasing power evidenced in an economic environment of rising prices?Q. 1 In a hypothetical economy, only the following transactions take place. firm M sells all of its product worth Rs. 12000 crores to firm N. Firm N sells its entire products to firm R for Rs. 19500 crores. Firm R sells his goods for final demand at Rs 27600 crore. Now calculate the followings: a) Value added by each firm. b) An indirect tax of 12% is levied on N's product. the burden of this tax is shifted to consumer. determine the market price of the goods for each firm. c) A subsidy of Rs. 75 crores are given to firm M. As a result, it reduced the price of its product. Determine the market price of output for all three firms.Question 5 How will each of the following scenarios impact the market for labor? A technological change of clothes that increases productivity of all workers. Impact on supply of labour Increase employment wage rates unchanged Increase wage rate. Decrease wage rates name, called and changed [movement along the curve] Employment unchanged. Shifts outwards/to the right decrease employment. Shift inwards/to the left Impact on demand for labor Increase employment wage rates unchanged Increase wage rate. Decrease wage rates name, called and changed [movement along the curve] Employment unchanged. Shifts outwards/to the right decrease employment. Shift inwards/to the left Impact on wage rate Increase employment wage rates unchanged Increase wage rate. Decrease wage rates name, called and changed [movement along the curve] Employment unchanged. Shifts outwards/to the right decrease employment. Shift inwards/to the left Impact on employee level Increase employment wage rates…
- The following table shows income tax rates in Econoland. Annual Income Up to $60,000 From $60,001 to $90,000 Over $90,000 This is an example of a Tax Rate 10% 20% 30% income tax. Nick, a resident of Econoland, currently works 20 hours a week and earns an annual income of $60,000. After paying income taxes, Nick receives per year. If Nick works an additional 10 hours a week (30 hours a week total), his annual income will be $90,000. After paying income taxes, Nick will receive per year. In other words, by working an additional 10 hours per week, Nick will receive an additional If Nick works 10 more hours in a week (40 hours a week total), his annual income will further increase to $120,000. After paying income taxes, Nick will receive per year. In other words, by working 10 more hours per week, Nick will receive more than what he would receive if he works only 30 hours a week. As Nick works more, the additional amount he receives from working 10 more hours " which means his cost of…Give typing answer with explanation and conclusion For a long time, your firm has been paying its workers a wage of $20 per hour, and your employees have been happy to work 40 hours per week at this wage. Business is suddenly booming, and your firm would really like your workers to agree to a 50-hour work week to meet this new demand for your product. You are considering two strategies. Under the first, you would raise the wage for all hours worked from $20 per hour to $22 per hour; under the second, you would leave the wage for the first 40 hours per week at $20 but offer $30 per hour for hours worked above 40 hours (that is, you would offer time-and-a-half for overtime). Both strategies have the same cost of $1,100 if a worker chooses to work 50 hours. Which strategy is more likely to lead your employees to agree to a 50-hour work week?389. The economy is in a recession. And consumer spending for large appliances (such as refrigerators) has fallen. At the factories that produce these large appliances, we expect the demand for workers to and wages for these workers to (A) Decrease; increase (B) Decrease; decrease (C) Increase; increase (D) Remain unchanged; remain unchanged (E) Increase; decrease
- Question 14 Use the following chart to answer questions 14–18. Suppose that in normal years demand is represented by Case 2, and supply is represented by Case B. In a normal year, what is the price of wapanzo beans? Question 14 options: a) $3 per pound b) $4 per pound c) $2 per pound d) $1 per pound Question 15 Suppose that in normal years demand is represented by Case 2, and supply is represented by Case B. In a normal year, what is the equilibrium quantity of wapanzo beans? Question 15 options: a) 8 million pounds b) 4 million pounds c) 6 million pounds d) 2 million pounds Question 16 Suppose that in normal years demand is…Scenario 1: The economy enters a recession driving down the demand for homes nationwide.Question 2 For each of the following events identify which of the determinates of demand or supply are affected. Also indicate whether demand or supply is increased or decreased. Why? People decide to have more children. A strike by aluminum workers rises aluminum prices. Engineers develop new automated technology for use in production. A stock market crash lowers people’s wealth. Batelco increases the prices of mobile services. Diminishing returns mean rising costs while economies of scale mean falling costs. Therefore, a firm cannot be facing both diminishing returns and economies of scale. Do you agree? Why or why not?
- arrow_forward Question Asked Jun 26, 2020 1 views Suppose one thousand (1000) units of product Aare produced by XYZ limited and the quantity demade for the product is two thousand (2000)units .All other things remaining constant,$18 change in price of product A results in change quantity demaded and supplied of 6 and 9 respectively.XYZ limited has a work force of 500 people who Pay income tax of $200 each .Supposed the government introduce a subsidy of $10 on each unit of A produced. Calculate the new equilibrium price and quantityThe Government of a country has implemented a higher minimum wage in 57 cities and towns effective 1 January 2020. Describe how the new wage will benefit employees in the urban areas and discuss the consequences to the economy of the country.if the price level of what firms produce is rising across an economy, but the costs of production are constant, then: