Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
expand_more
expand_more
format_list_bulleted
Question
Chapter 12, Problem 14CQ
To determine
The effects of increase in employment with similar wage rate of alternative sectors.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
How to economists conceptualise Human Capital? Why are these differences important both empirically and theoretically? (500w)
What are the benefits and risks associated with just-in-time delivery of inputs to factories? Why do computer chip factories run
continuously rather than maintaining some spare capacity? What is the underling economic concept that explains why 80 percent of
the world's most advanced computer chips are produced by a single firm, Taiwan Semiconductor, rather than by many small firms?
Just-in-time delivery of inputs to factories has benefits and risks. Identify which of the following are true. You may select more than one
answer.
Instructions: In order to receive full credit, you must make a selection for each option. For correct answers), click the box once to
place a check mark. For incorrect answerts), click the option twice to empty the box.
5
33
It eliminates the costs associated with maintaining inventories of inputs
If a single type of input is not delivered on time, a factory production line will have to be shut down.
Inventories are easier to track and manage
33
Firms can more…
If long-term property rights of an oil well cannot be guaranteed, how will the extraction rate from the well differ from the efficient extraction rate?
Chapter 12 Solutions
Economics: Private and Public Choice
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- As an energy source, fossil fuels have had an advantage because of their ["low", "high"] cost and relatively high ["availability", "net energy", "suitability"] , a measure of available energy after accounting for the energy involved in extraction and production. This has resulted in approximately ["60", "40", "80", "20"] percent of the world’s energy currently being provided by fossil fuels.arrow_forwardThe world's total petroleum reserve is estimated at 1.5 x 1022 J. At the present rate of consumption, 6.027 x 1017 J/day, how long would it take to exhaust the supply (in years)?arrow_forwardThis is a question from Sustainable Energy by Richard Dunlap (2nd edition): If world energy use increases linearly, use Figure 2.13 to estimate the annual percentage increase for OECD and non-OECD countries from 1990 to 2035 relative to the use in 1990. Here is some information about this figure: 1990 OECD 217 QBtu total 355 QBtu non-OECD 138 QBtu 2035 OECD 293 QBtu total 774 QBtu no-OECD 481 QBtu I also attached the figure: Do I find the overall percent increase and divide it by (2035 - 1990 ) or 45?arrow_forward
- The price of coal in 2020 is $58 per ton. The annual inflation between 2020 and 2030 is expected to be 5.6%. The price of coal is assumed to escalate at an annual average rate of 7.1% as a result of resource depletion (i.e., this escalation is independent of inflationary effects). What is the price of coal in the year 2030, expressed in 2000 dollars? (your answer must be rounded-off to the nearest dollars per billion joules, i.e., no decimal places)arrow_forwardQ: Both wages and noncash benefits are subject to income tax. True Falsearrow_forwardQ. 2. Show with a graph the effects of offshore outsourcing on domestic employment, wage rate, and income distribution. Who would support outsourcing? Who would be against it?arrow_forward
- The main office of a large bank has an annualturnover of 500 office workers. As an employmentofficer of this bank, discuss the sources you woulduse in obtaining replacement employees.arrow_forwardWhat is the impact of COVID -19 on college enrollment? Why? What do you expect will happen to enrollments after the pandemic? What is the impact on student loans? Should the current federal subsidies on education be increased? ( Funding for public colleges, Pell grants, programs like Salinas Valley Promise) Should Community College be free?arrow_forwardYou are a social media business with excess capacity of 50% on your computer server; if you stay with your existing business, you will not run out of capacity until the end of year 7. You are considering introducing a new service that will use some of the excess capacity, but cause you to run out of capacity at the end of year 3. If the cost of adding a new server is $ 60 million (you can assume no inflation), what is the opportunity cost of using the excess capacity? (You have a cost of capital of 12%, a marginal tax rate of 35% and you can assume that you can expense the cost of the server.) Hint: opportunity cost is money lost by using the excess capacity earlier relative to using it later). а. 10.12 million b. 3.44 million С. 6.89 million d. -2.34 millionarrow_forward
- For every hour up to 40 hours of work each week, Mary earns $16/hour, and for any extra hour in excess of 40, she earns $20/hour. The current tax rate that she faces is 20%. She also needs to pay $4 per each hour she works for childcare service while receives $80 in childcare support payments each week. Mary has 16 non-sleeping hours a day (112 hours) in a week. Her non-labour market income is $60 per week. What will be her weekly consumption amount if she works for 58 hours a week?arrow_forwardBased on the following information: The investment cost is paid in full in quarter 0, and the cost of the factory is 100000 while the cost of the research is also 100000. The factory has a lifetime of 20 quarters (5 years) and the value of the factory at the end of quarter 20 is 0 Only green jetpacks should be produced at the factory throughout its lifetime. There is no investment in research to streamline production or material consumption. Suppose the quarterly demand in the market is constant and given at P = 338 - 0.018 * Q, where P is price and Q is the number of jetpacks in demand. Assume P is 248 USD and Q is 5000. There are 5 competitors in the market (including you), and all sell the same number of jetpacks each quarter at the price of 248 each. You produce as much as you sell. The costs associated with the quarterly production at the factory are given at K = 178 * Q + 20000, where 178 * Q is direct labor cost and materials, and 20000 is quarterly maintenance cost when Q is…arrow_forward- 16 (10%) (page 2 of 3)- Google Chrome urses.open.uwi.edu/mod/quiz/attempt.php?attempt3D43724&cmid3D461748&page=D1 Exchange 2020 12015 Mathematical Methods of Economics I | S2 20 Ensure that you show ALL workings. Graphs NOT required. n tyn- A company produces two types of can openers: Model I and Model 2. Each require the use of three machines: A, B and C. Model I requires 2 hours on machine A, 1 hour on machine B and 1 hour on machine C. Model II requires 1 hour on machine A, 2 hours on machine B and 1 hour on machine C.The maximum number of hours available for machine A, B and C are 180, 160 and 100 respectively. The profit on Model I is $4 and Model Il is $6. on Write down the LP model. Identify the coordinates of the extreme points of the feasible region. Paragraph -BIEE W 99+arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage LearningEconomics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher: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
Environmental Law: The Clean Air Act; Author: LawShelf;https://www.youtube.com/watch?v=1-SH3kJpVA4;License: Standard Youtube License