Microeconomics
10th Edition
ISBN: 9781259655500
Author: David C Colander
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 3QAP
(a)
To determine
Explain how it might influence the labor market.
(b)
To determine
Explain why the 98% of secretaries are woman and 98% of automobile mechanics are men.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Is capitalism associated more with a market or command economy?
Why would capitalism be able to do "millions of things better" than a centrally planned economy?
What things do you think a capitalist society would be more successful at than a centrally planed society?
The world population will double in the next 10 years, but you personally are unlikely to eat only half as much. To explain this phenomenon, anthropologists have come up with this kind of explanation of world hunger:
a. Inequality
b. Division of labor
c. Resource expansion
d. Scarcity.
What did mercantilism see as the economic goal for society? Why was poverty seen as essential?
Give one paragraph (short) explanation for the above question.
Chapter 1 Solutions
Microeconomics
Ch. 1.1 - Prob. 1QCh. 1.1 - Prob. 2QCh. 1.1 - Prob. 3QCh. 1.1 - Prob. 4QCh. 1.1 - Prob. 5QCh. 1.1 - Prob. 6QCh. 1.1 - Prob. 7QCh. 1.1 - Prob. 8QCh. 1.1 - Prob. 9QCh. 1.1 - Prob. 10Q
Ch. 1 - Prob. 1QECh. 1 - Prob. 2QECh. 1 - Prob. 3QECh. 1 - Prob. 4QECh. 1 - Prob. 5QECh. 1 - Prob. 6QECh. 1 - Prob. 7QECh. 1 - Prob. 8QECh. 1 - Prob. 9QECh. 1 - Prob. 10QECh. 1 - Prob. 11QECh. 1 - Prob. 12QECh. 1 - Prob. 13QECh. 1 - Prob. 14QECh. 1 - Prob. 15QECh. 1 - Prob. 16QECh. 1 - Prob. 17QECh. 1 - Prob. 18QECh. 1 - Prob. 1QAPCh. 1 - Prob. 2QAPCh. 1 - Prob. 3QAPCh. 1 - Prob. 4QAPCh. 1 - Prob. 5QAPCh. 1 - Prob. 6QAPCh. 1 - Prob. 1IPCh. 1 - Prob. 2IPCh. 1 - Prob. 3IPCh. 1 - Prob. 4IPCh. 1 - Prob. 5IPCh. 1 - Prob. 6IPCh. 1 - Prob. 7IPCh. 1 - Prob. 8IPCh. 1 - Prob. 9IPCh. 1 - Prob. 10IPCh. 1 - Prob. 11IPCh. 1 - Prob. 12IPCh. 1 - Prob. 13IP
Knowledge Booster
Similar questions
- One of the famous Utopian Socialists, Robert Owen, disagreed with Adam Smith that self-interest would bring harmony of interest. Explain his viewpoint on the relationship between human character and their surrounding environment and the social revolution that he introduced in his New Lanark Mills in order to prove his theory. Explain in brief why Marxian Socialism dismissed the moderate approach used by Utopian and Christian Socialism to eradicate the worst aspect of Capitalismarrow_forwardDecide whether each of the following descriptions most closely corresponds to being part of a command system, a market system, or a laissez-faire system. a. A woman who wants to start a flower shop finds she cannot do so unless the central government has already decided to allow a flower shop in her area. b. Shops stock and sell the goods their customers want but the government levies a sales tax on each transaction in order to fund elementary schools, public libraries, and welfare programs for the poor. c. The only taxes levied by the government are to pay for national defense, law enforcement, and a legal system designed to enforce contracts between private citizens.arrow_forward11. In 2022, Ibram X. Kendi, author of “How to be an Antiracist” informed Valencia College that he would join your economics professor in a moderated discussion – for one hour – and for a fee of $30,000. Who would argue that such a price is not only appropriate, but, if agreed to, would have created benefits for both parties in the transaction? a. John Locke b. Adam Smith c. Ibram X. Kendi d. The author of “I, Pencil” e. All the above.arrow_forward
- Why is the opportunity cost of attending college higher for a 50 year old than for a 20 year old?arrow_forwardWhat are “collective action problems”? What issues may unfold based on such problems? Give examples.arrow_forwardIn a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this system, is there a greater gap between the rich and the poor?arrow_forward
- The "Freshwater" school of economic thought is commonly associated with - a. Richard Thaler b. Milton Friedman c. Hyman Minksy d. Paul Krugmanarrow_forwardWhich of the following free-market philosophers believed that Capitalism would end because its image would be tarnished by corruption, causing people to seek out Socialism as a more equitable alternative. Mises Marx Smith O Schumpeterarrow_forwardWhat is the class relationship at the core of the Capitalist economic system?arrow_forward
- Thousands of people work together every day so that fresh steak gets delivered to people in Riverside, California as cheaply as possible so that you can buy it if you so choose. Many of the people involved in this process don't know or even care about the people living in Riverside. Which of the following does this best reflect? O The idea that central planners are necessary to organize the economy and ensure that it runs smoothly the fallacy of composition the idea that association is not causation O the invisible hand principlearrow_forwardWhat are the human behaviors economists should observe when creating economic models?arrow_forwardWhat role, if any, will marginalism, incentives, and disinterestedness play in the questions you ask and the inferences you make in determining whether or not an economic policy makes sense?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning