Answered: Hi there can you please assist on the…

Hi there can you please assist on the following question 1. Describe any five important differences between the labour market and the goods market.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

If Aling Washa will accommodate a few of laundry services because she does the laundry manually. Now that she needs to earn more, she needs to buy washing machine to accommodate more than usual. What will happen? a. laundry services income supply curve will shift to the right b. laundry services supply curve will shift to the right c. laundry services supply curve will shift to the left d. laundry services income supply curve will shift to the left
1. The next two questions are about the labor market for upholsterers, who are people who do custom upholstery (the fabric on furniture). A new type of pre-sewn fabric piece reduces the amount of work that an upholsterer needs to do on each piece of furniture, increasing how much work each individual upholsterer can do for the same amount of effort. This is describing a change in some part of the labor demand or labor supply curves. Which part? a. Group of answer choices b. Price of the good (P) c. Marginal productivity of labor (MPL) d. The labor/leisure tradeoff in the supply curve e. The minimum wage 2. Assume that the new pre-sewn fabric ends up making the wage of upholsterers go up. You also observe that very few tailors, which is a similarly difficult job, decide to switch from being tailors to being upholsterers in response to the wage increase. What is this most likely an example of? a. Group of answer choices b. Taste-based discrimination c. Compensating…
Economics: Labor Economics Question: 1 Labor demand and supply of a market are given by w = 32 - 5Ed and w = 4 + 2Es. Please show work for each part. a.What is the equilibrium employment in this market? [a] b.What is the equilibrium wage in this market? [b] Question: 2 The marketplace is currently in equilibrium as indicated by the tangency condition shown below. Assume capital and labor are substitutes. Suppose technological improvements increase the productivity of capital but have no effect on the productivity of labor. In terms of its use of capital and labor what would you expect firms to do to re-establish equilibrium? (MPe/W) = (MPk/r) Thank you for your help and support Instructor Agent!
Only typed answer and please don't use chatgpt How does the market for inputs like labor differ from the market for goods and services? (Check all that apply.) Part 2 A. Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs. B. The demand for inputs is derived from the demand for final goods and services. C. Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services. D. The market for inputs resolves shortages and surpluses through government-supervised negotiations.
Don't use ai to answer I will report your answer Solve it Asap with explanation and calculation
For each of the events describe below, you are required to explain: 1. The market you are evaluating (e.g., labour market, automotive market, etc). 2. Does the event act on the demand side, supply side, or both sides of the market? 3. Does the event lead to a quantity or price change? Or does the event lead to a shift in demand, supply, or both? Make sure to explain what sort of assumptions you are making on the elasticities of demand and supply (when plotting your demand and supply, describe whether you are assuming an elastic or inelastic demand/supply). a) A reduction of supply as a consequence of a disruption in the world oil markets b) The implementation of a minimum wage c) The implementation of taxes to manufacturing of cars in Australia d) The implementation of a Carbon tax in the economy. A Carbon tax is charged according to the level of emissions of greenhouse gases in an economy. e) The implementation of a new loan program to university students in the education sector
4:12 PM Tue Apr 27 * 37% ( Notes A few years ago the house of representatives passed a bill to change the payroll tax paid by workers(The tax that fun Social Security let's analyze how this tax affects workers, firms, and the government. A. Draw a graph for the labor market in the United States. Assume the market is perfectly competitive. So the affects of a payroll tax on workers (To make things easy, assume the tax is a fixed amount, say $1000). Label the wage paid by firms before the tax F1, the wage paid with the tax F2, The wage received by workers before the tax W1, and the wage received with the tax W2. Label the number of jobs before the tax Q1 and the number of jobs with the tax Q2 the deadweight loss B. The bill pass by the house lowers the tax paid by workers to $500. Show the effects of the change on your graph above. Label the new wage paid by firms F3 and the new wage received by workers W3. Is there any change in the deadweight loss C. How does the tax cut affect workers…
why minimum wage should not increase ? ( state youre answer by looking at economy as micro)
In Crabby land, there are only 3 goods: Burgers, Patties, and Pizza. The following table shows the prices and quantities produced of these goods in 1990, 2000, and 2010: Burgers Patties Pizza Price 2.00 7.00 0.70 1990 Quantity 500 300 300 Price 1.00 10.00 4.00 2000 Quantity 600 200 200 Price 1.10 10.50 0.75 2010 Quantity 690 110 420 a) A "market bundle" for a typical family is deemed to be 5 burgers, 3 patties, and 4 pizzas. Compute the consumer price index (CPI) for each of the three years, using 1990 as the base year. b) What was the rate of inflation from 1990 to 2000, using the CPI you calculated in (a)? c) Compute the CPI for each of the three years, using 2000 as the base year instead of 1990 but using the same "market bundle." d) What was the rate of inflation from 2000 to 2010, using the CPI you calculated in (c)? Is it the same as your answer to (b)? e) Now suppose that a new market bundle is defined; the "market bundle" is now 6 burgers, 2 patties, and 4 pizzas. Compute the…
Graphically demonstrate how the following economic events influence (ceteris paribus) the relevantde-mandfunction. Label your axes, and specify the market you are discussing. (a) Technological development has lowered the price of natural gas-powered electricity; What effect doesthis have on the market for coal-fired electricity? (b) A strong growing season for pomegranates leads to lower prices of the fruit.
The Labor Market: End of Chapter Problem 10. Japan's population is falling due to its low birth rate. a. Please adjust the graph to illustrate how this will affect Japan's labor market. Click on the lines to see options. Japan's labor market Supply Demand Quantity of labor b. Select all types of government policies that might reverse this population trend. tight immigration policies tax credits for having children %3D flexible or part-time work hours for working parents O O O
In the labor market, what causes a movement along the supply curve? What causes a shift in - the supply curve?