Question 18 The image below shows what? 100 80 60 40 20 Percent income Line of perfect equality M 20 40 Percent of income receivers 60 O The impact on unions on wage earners. O Distribution of income among groups of people. The inequality of the American capitalist system. Actual income distribution 80 Percent of Income receivers 100 1

Question 18 The image below shows what? 100 80 60 40 20 Percent income Line of perfect equality M 20 40 Percent of income receivers 60 O The impact on unions on wage earners. O Distribution of income among groups of people. The inequality of the American capitalist system. Actual income distribution 80 Percent of Income receivers 100 1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Problem 2 Let's assume you’ve found the following labor demand and supply curves: Lp 30 – w Ls = 2w (a) Solve for the equilibrium wage and employment level. (b) Graph the demand and supply curves. (c) At this equilibrium, what is your welfare/gains from trade? (d) Now, assume a minimum wage has been implemented at $20. How will this impact your demand? Supply? (e) How many workers are displaced by this new policy? How much “extra" unemployment occurs with this new policy? Hint: Think about the reservation wage. (f) Graph the new labor demand and supply with this minimum wage. (g) At this equilibrium, what is your new welfare? Are you better off with this change? Explain.
Most economists believe that only part of the gap between the wages of white males and the wages of other groups is due to discrimination. Economists believe that some of the gap is explained by which of the following factors? O A. differing preferences for types of jobs B. differences in education C. differences in experience O D. All of the above. Which of the following is part of the economic analysis of discrimination? O A. Employers who discriminate pay an economic penalty because very few workers are willing to work for an employer who discriminates. O B. Employers who discriminate receive an economic reward from retaining only the most productive workers. C. Market competition has entirely eliminated economic discrimination in the United States. D. Employers who discriminate pay an economic penalty imposed by market competition.
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Which of the following is the BEST example of monopsony employer? a.Hiring of book keepers by companies b.Hiring of astronauts by space stations c.Hiring of cashiers by drug stores d.Hiring of chefs by hamburger joints
Becker argued that discrimination is economically detrimental to all parties and will be eliminated by the market. discrimination is only economically detrimental to the employee but will never be completely eliminated by the market. discrimination is economically detrimental to all parties but will never be completely eliminated by the market. O discrimination is only economically detrimental to the employee and will be eliminated by the market.
In what ways has Unions played in building a middle class and the relationship of unions now to the decline of the middle class?
A monopsony employer will employ were competitive. workers than if the labor market O fewer more the same number of possibly more or possible fewer, it depends on the size of the firm.