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- Several members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. B. Market for K-12 Teachers A. Market for Computer Software Programmers Wc WA W. So'00 Quantity of Computer Quantity of K-12 Teachers Software Programmers Refer to Figure 11-1. If the wage law were enacted, what would the result in the market for computer programmers be? a shortage of Q6- Q5 a surplus of Q6- Q4 | a surplus of Q6 -Q5 a shortage of Q6- Q4 | Wage rate Wage rateThe graph shows a market for labor Draw a line that atrales a minimum wage that creates unemployment of 3 million hours a year Label t OA price floor OB quantity celing OC price celing OD quarty foor 400 5.50 100 450- 4004 3.50 300 250 2004 Wage a las per hour * 2007 zis-a zis No 250 260 Qty of hours per year **Draw only the objects specified in the questionWhat can be done to over come the shortage of workers(. Explain 100 words)
- Draw 3 diagrams to illustrate the effects of a wage subsidy on the labor market. Explain each diagram.Suppose that a large number of U.S.consultants decide to take employment in Europe due to better benefits and work environments at European companies. The following graph shows the labor market for consultants in the United States. Show the effect of the emigration on the U.S. labor market for consultants by shifting the labor demand curve, the labor supply curve, or both. (?) Supply Demand Supply Denand LABOR WAGEplease help me solve for all blank parts note: at the very top of the question it says suppose that the government imposes a price ceiling of 800
- Q.3 minimum wage legislationThe following graph gives the labor market for laboratory aides in the imaginary country of Sophos. The equilibrium hourly wage is $10, and the equilibrium number of laboratory aides is 250. Suppose the federal government of Sophos has decided to institute an hourly payroll tax of $4 on laboratory aides and wants to determine whether the tax should be levied on the workers, the employers, or both (in such a way that half the tax is collected from each party). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You…$30 a week boost to minimum wage The government increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that a $35 a week. increase was unaffordable. Source: ABC Australia, February 11, 2011 The graph shows a market for low-skilled labor. If the minimum wage is set at $570 a week, If the minimum wage is set at $540 a week, OA. some people who want a job can't get one; everyone who wants a job has one B. firms cannot hire all the labor they want; everyone who wants a job has one OC. everyone who wants a job has one; firms cannot hire all the labor they want OD. everyone who wants a job has one; some people who want a job can't get one 590- 580- 570- 560- 550 540- 530- 520- 510+ 9.8 Wage rate (dollars per week) A D 9.9 10.1 10 Quantity (millions of hours per year) S 10.2 Next Q Q G
- The equilibrium price in the housing market is very high. What do you think will happen if the government imposes a very high price ceiling that is below but very close to the equilibrium price on the housing market, because a politician owns housing units in certain areas? How does that affect the poor and the market for housing?Referred to the above graph of the labor market. The government decides to impose a wage tax as shown on the graph. If the number of workers hired after the imposition of the tax is 800 then the total amount of tax is $___The market equilibrium wage is currently $12 per hour among hairdressers. At that wage, 17,323 hairdressers are currently employed in the state. The state legislature then sets a minimum wage of $11.50 per hour for hairdressers. If there are no changes to either the demand or supply for hairdressers when that minimum wage is imposed, the number of hairdressers employed in the state will be: a. Fewer than 17,323. b. Still 17,323. c. More than 17,323. d. This is a bilateral monopsony so you can’t tell.