the demand for labor is determined by whom, their goals and the criteria used by them for achieving that goal. Concept Introduction: Economic Decision makers: this refers to the act of determining on the difficulties of the economy and the individuals who make the judgment. Demand for labor: this is a concept that defines the amount of demand for labor that an economy or firm is willing to employ at a given point of time. Supply of labor: the number of hours each individual is willing to supply at a given wage rate Derived demand: this describes the demand of a good or service which is a consequence of the demand for something else.

Question

Suppose the exchange rate between the British pound and the U.S. dollar is £1 = $2.00. The U.S. government implementsU.S. government implements a contractionary fiscal policya contractionary fiscal policy. Illustrate the impact of this change in the market for pounds. 1.) Using the line drawing tool, draw and label a new demand line. 2.) Using the line drawing tool, draw and label a new supply line. Note: Carefully follow the instructions above and only draw the required objects.

Answer 1

Question

Chapter 11, Problem 4P

A

To determine

the demand for labor is determined by whom, their goals and the criteria used by them for achieving that goal.

Concept Introduction:

Economic Decision makers: this refers to the act of determining on the difficulties of the economy and the individuals who make the judgment.

Demand for labor: this is a concept that defines the amount of demand for labor that an economy or firm is willing to employ at a given point of time.

Supply of labor: the number of hours each individual is willing to supply at a given wage rate

Derived demand: this describes the demand of a good or service which is a consequence of the demand for something else.

B

To determine

The Supply of labor is determined by whom, their goals and the criteria used by them for achieving that goal.

Concept Introduction:

Economic Decision makers: this refers to the act of determining on the difficulties of the economy and the individuals who make the judgment.

Demand for labor: this is a concept that defines the amount of demand for labor that an economy or firm is willing to employ at a given point of time.

Supply of labor: the number of hours each individual is willing to supply at a given wage rate

Derived demand: this describes the demand of a good or service which is a consequence of the demand for something else.

C

To determine

The case when demand for labor is considered as a derived demand.

Concept Introduction:

Economic Decision makers: this refers to the act of determining on the difficulties of the economy and the individuals who make the judgment.

Demand for labor: this is a concept that defines the amount of demand for labor that an economy or firm is willing to employ at a given point of time.

Supply of labor: the number of hours each individual is willing to supply at a given wage rate

Derived demand: this describes the demand of a good or service which is a consequence of the demand for something else.

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Suppose the exchange rate between the British pound and the U.S. dollar is £1 = $2.00. The U.S. government implementsU.S. government implements a contractionary fiscal policya contractionary fiscal policy. Illustrate the impact of this change in the market for pounds. 1.) Using the line drawing tool, draw and label a new demand line. 2.) Using the line drawing tool, draw and label a new supply line. Note: Carefully follow the instructions above and only draw the required objects.

Just Part D please, this is for environmental economics

3. Consider a single firm that manufactures chemicals and generates pollution through its emissions E. Researchers have estimated the MDF and MAC curves for the emissions to be the following: MDF = 4E and MAC = 125 – E Policymakers have decided to implement an emissions tax to control pollution. They are aware that a constant per-unit tax of $100 is an efficient policy. Yet they are also aware that this policy is not politically feasible because of the large tax burden it places on the firm. As a result, policymakers propose a two- part tax: a per unit tax of $75 for the first 15 units of emissions an increase in the per unit tax to $100 for all further units of emissions With an emissions tax, what is the general condition that determines how much pollution the regulated party will emit? What is the efficient level of emissions given the above MDF and MAC curves? What are the firm's total tax payments under the constant $100 per-unit tax? What is the firm's total cost of compliance…