Even if labour markets were perfectly competitive, income would be unequally distributed because A) some people are more intelligent. B) some people have more property. C) some people have more power. D) all of the above
Q: From the Hysteresis theory, a long period of high unemployment, can increase the natural rate of une...
A: Introduction: Unemployment is defined as a condition in which a person who is actively looking for j...
Q: Max consumes coffee and sugar in the fixed proportion of 3 packs of coffee to 2 packs of sugar. A pa...
A: Given : Coffee and Sugar are consumed by Mac in fixed proportion of 3:2. Cost of pack of coffee = $...
Q: BA. How is the Pigou tax computed (write down carefully the way it is computed in a simple two-firm ...
A: *Hi there , as you have posted two different questions . As per our guidelines we can only solve the...
Q: In an economy, long distance travel is usually provided by high-speed rail and coaches. The fares of...
A: an economy, long distance travel is usually provided by high-speed rail and coaches. The fares of hi...
Q: Which of the following (insulin, coffee, housing, cars) is an example of an inelastic good?
A: In a market, when talking about price elasticity of demand of different products, it depends upon va...
Q: 111 Domestic Demand Domestic Supply 57 World Price 33 200 360 520 QUANTITY (Tricydes) Refer to Figur...
A: Total surplus is the sum of consumer surplus and Producer surplus. Consumer surplus is the area abov...
Q: YAS = 1548 + 19P – 12Poil YAD = 412 – 33P+ 26G Suppose initially, the Poil = $86 per barrel and gove...
A: Goods market in equilibrium when aggregate demand and aggregate supply are equal to each other at ce...
Q: The constant annual operating costs of a small machine are expected to be $150,000 for the next four...
A: The answer is given below
Q: Free trade is beneficial only if a country is more productive than foreign countries.
A: When goods and services could be sold and bought without having any restrictions or tariffs then it ...
Q: 2) Consider a Cournot duopoly, where each firm has a marginal cost MC = 80, and the total market dem...
A: Here we calculate the followings terms by using the given demand function in duopoly market , so the...
Q: 1. The objective of economic development is to raise the levels of living, it means a. provide addit...
A: 1. Economic development refers to initiatives, policies, or actions aimed at improving a community's...
Q: New environmental regulation increases the cost of producing gasoline. How will this affect the gaso...
A: Environmental regulations can raise production expenses and lower efficiency by expecting firms to i...
Q: 3) Quantity demanded per week 20 Price ($) Quantity supplied per week 20 40 16 4 60 12 80 8 12 100 4...
A: Here we calculate the elasticity of the following terms as per instruction , so the calculation of t...
Q: 6. (See week 5 Autumn Term) Assume you can work as many hours you wish at £12 per hour (net of tax)....
A: GIVEN Assume you can work as many hours you wish at £12 per hour (net of tax). If you do not work,...
Q: Consider a small open economy that takes the world interest rate as given. If it is assumed that a s...
A: Unlike the earlier notion of utility being a measure of happiness, utility is now described as a met...
Q: Graph Input Tool Market for Research Assistants 20 18 Sup ply IWage (Dolars per hour) 16 Labor Deman...
A: pleasefind the answer below.
Q: Which of the following is included in the natural rate of unemployment? O a. Frictional, structural ...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: 6. (continued) d) Now assume that you receive an income of £140 per week from an unknown benefactor....
A: In the figure below it is shown that when hourly wage rate increases i.e. £18 per hour. labors will ...
Q: You are the CEO of a company that has to choose between making a $100 million investment in Russia o...
A: Foreign investment entails the transfer of funds from one country to another, with foreign investors...
Q: Compare the emission fee vs. the cap-and-trade system to deal with an externality, in the presence o...
A: Emission fee is the tax imposed on the pollution emitted in production of goods and services. It is ...
Q: A firm will be better off by hiring an additional worker only when: The overall benefit is greater t...
A: A firm will be better off by hiring an additional worker only.
Q: 5. Real versus nominal GDP Consider a simple economy that produces two goods: cupcakes and envelopes...
A: Nominal GDP vs Real GDP Considering that GDP is one of the most important metrics for assessing an...
Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=464-2P and Market Su...
A: Given : Demand :Q = 464 - 2 P Supply : Q = 5P
Q: Consider the allocation of a fixed, renewable supply of surface water in a given year between two co...
A: The term efficiency refers to the peak level of performance that uses the fewest number of inputs to...
Q: Suppose that each firm in a competitive pizza market has the following identical cost: Total cost: T...
A: Answer: Given, Total cost function: TC=25+1.5Q2 The following formulas will be used: (1). Fixed cost...
Q: Alia only likes tacos, which she buys from two local restaurants - Alberto's and Roberto's - so let'...
A: Given:- U(x,y)=2x+3y I=$24, Py=$4 Please find the images attached below for detailed solution.
Q: QUESTION 28 Figure 6-13 16 12 8 Demand 40 80 105 120 160 QUANTITY Refer to Figure 6-13. What is the ...
A: Answer to the question is as follows:
Q: Based on PPF , if producer moves from B to C if producer have the following choices of production th...
A: Here we calculate the opportunity cost of the PPC when it shift B to C and choose the correct optio...
Q: B) Larger Explains it correctly and don't copy paste. Only correctly solve
A: If the economy is experiencing low unemployment, and in relation high growth period, the country w...
Q: Mr. Alhambra has instructed his bank to establish a trust fund that will provide P10,000 per year fo...
A:
Q: True/False Explain. Answer True or False, and then write 2-4 sentences explaining why. The explanati...
A: Question 13 has insufficient information. Please upload the question stating the assumption 4. Quest...
Q: 1. Examine the data on unemployment rate and Economic rate for country A and Country B i) Identify...
A: Unemployment and Economic growth:- The connection between economic growth and unemployment demonstra...
Q: F 360 320 280 - 240 - 200 - ►K- 160 120 80 40 30 60 90 120 150 180 210 240 270 300 330 pilows Refer ...
A: The curve that shows the possible combinations of two goods that could be produced in an economy dur...
Q: Choose the false statement. 1) Patents are a reason for monopolies to exist. 2) Network effects mu...
A: Introduction: Profit maximization is a process that businesses go through in order to obtain the opt...
Q: On April 1, thne price gas at B65' ner Station was $3./0 per gallon. On 1, the price was $4.45 per g...
A: Here we calculate the following blanks and explain by using the given information , so the calculati...
Q: To answer some parts of this question, you may need to refer to the diagram displayed below. The eco...
A: The given graph shows three aggregate demand curves and three aggregate supply curves with the initi...
Q: Industrial Organziation game - Business Strategy & Game theory Consider a game with competitive fo...
A:
Q: A supply and demand puzzle e following graph shows the market for laptops in 2010. Between 2010 and ...
A: The demand curve is a graphical representation of the negative relationship between the price and th...
Q: Assume your utility over income is U=T and you have a 10% chance of getting sick. Your income when s...
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: A large policy debate revolves about the causes and consequences of child labour. Extensive child la...
A: When you think of child labour you may immediately think of child slaves who have to work all day in...
Q: . If a carbon-offset project is already profitable, is it ethical to provide credits over and above ...
A: The projects that are based in developing countries that are being designed to reduce emissions in t...
Q: San Drew is observed that many people in his town craves for ice cream because of their weather, but...
A: (Since you have asked many questions, we will solve the first one for you. If you want any specific ...
Q: A consumer has the indifference map shown below. The market prices of X and Y are $20 and $12, respe...
A: Utility maximization is a strategic scheme whereby individuals and companies seek to achieve the hig...
Q: What is the importance and usefulness of agriculture and home economics to individuals, society and ...
A: Agriculture plays a vital role in the entire lifetime of a given economy. Agriculture is that the ba...
Q: Alex wishes to have P 800,000.00 available to buy a car in 4 years. How much should he deposit in a ...
A: Given that, Present value (P) = 800,000 Rate of interest (r) = 10 or 0.10 Compounded quarterly = 4 N...
Q: Define the population from which the sample is to be drawn. Specify the population frame from which ...
A: Sampling in economics is the process or method in which a part of the population commonly termed as ...
Q: 1. DOES CONSUMER SURPLUS GO UP OR DOWN? 2. DOES PRODUCER SURPLUS GO UP OR DOWN? MPCO (So) 3. COMMENT...
A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only ...
Q: a.) 2 3 7 10 A A b.) 7 8 9 2 3 10 +
A: An annuity is an agreement between you and a financial institution in which you pay a lump sum payme...
Q: Modernizing values of developed nations, many societies in developing countries suffer from serious ...
A: ECONOMIC development means the overall growth of people . As a result, development must be viewed as...
Q: 3. Use the wage curve and the profit curve to show the equilibrium in a model of the labour market. ...
A: If a person is unemployed even though he or she is willing to work with the current sàlary then this...
Even if labour markets were
- A) some people are more intelligent. B) some people have more property.
- C) some people have more power. D) all of the above
Step by step
Solved in 2 steps
- In which type of economy is there most likely to be an unequal distribution of wealth? A-Pure Market B-Pure Command C-Socialist D-TraditionalSome people feel that income distribution (equality) should be achieved. Do you agree or disagree with this concept? How would you feel if someone did more work and made more money but then gave you a portion of the profits? How would you feel if you had to give some of your paycheck to someone that did not work as hard. What if the instruction decided to give all the students a grade of "B" including those that did "A" work as well as those that gave "C" effort?The distribution of income is correlated with the distribution of human capital. A) True B) False
- All of the following, except one, are examples of the factor land. Which one is the exception? Minerals Natural harbours O Mortgages held on land Supplies of fresh water Fertile sollExplain why a capitalist economic system tends to bring about a highly unequal distribution of income. Why did income inequality rise significantly in the U.S. after about 1980?When there is increase in the production, we normally increase the labour rather than the machinery. The more labour employed in the production process, there will be raise in the production, But continuous increase in the labour may lead to decrease in the production after certain point. Here comes the question. How many employees should be employed to get maximum production? Law of variable proportion answers the question of the employment of labour for optimum production? Explain the Law of Variable Proportions in detail?
- In California, a welfare recipient is eligible for welfare benefits of $645. Benefits are reduced by 50 cents for every dollar of earnings. Consider Elizabeth, a resident of California, who can earn $10 per hour. a. If she works 10 hours, how much are her earnings, how much is her welfare benefit, and how much is her income? b. After Elizabeth works a certain number of hours, she does not receive any benefit at all. What is that number of hours? c. Use your answer to parts a and b to plot her budget constraint. d. Sketch a set of indifference curves consistent with Elizabeth's participating in the labor marketIn a competitive market economy, how is the distribution of income primarily determined? a.By the number of firms in the market for goods and services b.By the ownership of resources and human capital in the economy c.By the government d.Can be changed so that everyone is left better off while none are made worse offDoes a “rational” individual always reduce labour supply in response to a proportionalincome tax? Why or why not? Use the labour-leisure model to illustrate your response.
- The factor distribution of income: refers to the pattern of income that people derive from different factors of production. shows how much income people get from labor compared to land and capital. hasn't changed substantially in the last century in the United States. All of these are true.The view that a fair income stems from a person's contribution or productivity is at odds with the idea that play a significant role in the incomes of many people. hard work individual output education level luck seems toWhat is the poverty trap? Group of answer choices A)The situation where government assistance can result in a low or zero net gain for working. B)The situation where a person becomes unemployed and cannot find another job. C)The situation where a person becomes disabled and cannot work. D)The poverty trap occurs when a person is poor, and structural discrimination prevents that person from escaping poverty.