Submit the answers to the following "review/critical thinking questions": 1. Name and explain some of the reasons why wages are likely to be sticky, especially in downward adjustments.
Q: Which of the following are examples of specialization? Check all that apply. O Eileen is good at exp...
A: Since you have posted multiple questions, as per answering guidelines we are supposed to solve only ...
Q: Explain the basics of foreign and domestic competition?
A: Competition is an integral part in economics, it is the basis of various forms of market. Quality go...
Q: Explain why understanding the cost curves and various types of costs is important for businesses mak...
A: The expenses that are being incurred for running a business and carrying out various transactions of...
Q: 10. In the short run, the central bank's actions to fight inflation shift the aggregate demand curve...
A: In an economy, the problem of inflation arises when there is excess demand for goods and services as...
Q: If the employment rate increase reine 10% to 14% the economy wi
A: Employment rates measure the number of people who are currently working and have jobs.
Q: The four statements below each describe a different market, highlighting one teature of that market....
A: The structure that depicts the way in which firms are being categorized and differentiated based on ...
Q: which factor is least probable to affect price elasticity of demand? a..purchase cost relative to d...
A: Elasticity is a measure of a variable's sensitivity to a change in another variable, most commonly t...
Q: Country A is a large Importer of good 1. If country A imposes a sighifficant import tariff on good O...
A: Trade is defined as the exchange of commodities and services across the boundary of the country. In...
Q: People who drop out of high school are able to produce more health than college graduates because th...
A: The production possibility frontier of an economy shows the different combinations of two goods an e...
Q: Class Exercise No 1 • Given the following data in the table:- 1- Draw the curve where Y is vertical ...
A: Given: Points Y ...
Q: Does better pricing of the product help to increase purchase intention of product. plz explain in de...
A: In a particular democratic government generally, it has been seen that there is both public and priv...
Q: Explain the comparative forms of political authority
A: Any moral principle that legitimises differences in individuals' rights and duties as a result of th...
Q: What is globalization in contemporary world? What is globalization in simple words? What is the impo...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: 3. Discuss some problems with using the unemployment rate as a barometer for the health of the labor...
A: ANSWER: When we consider the official unemployment rate it simply divides the number of p...
Q: Assume a firm located in a non-urban location pays a wage of $34/hour. However, it is assumed that t...
A: The labor market is the market in which the equilibrium is determined on the basis of labor demand a...
Q: 4. In inventory control, the time which elapse between placing an order and the arrival of the inven...
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: The table below represents a firm's profit for producing and selling candles. Assume that if a firm...
A: Total revenue is price multiplied by quantity. Marginal revenue is change in total revenue with resp...
Q: As a consumer and content creator, how are you influenced by the media? You can use your own lifesty...
A: As a communication tool, social media has taken on a significant role. People use social media to co...
Q: What is the AK model of Endogenous growth?
A: Endogenous growth theory According to endogenous growth theory, economic development is predominantl...
Q: The analysis period is the least common multiple of lives for evaluating mutually exclusive alternat...
A: To make an analysis of the cash flow over a period of time, there are different ways to evaluate cas...
Q: When company executives buy and sell stock basedon private information they obtain as part of theirj...
A: Decision Variables: X1 =Amount invested in Internet fund. X2 =Amount invested in Blue Chip fund. Con...
Q: Explain the benefit principle and ability to pay approach with regard to tax equity. Which approach ...
A: Concept: Benefit principle: This principle implies that those who benefit from the public goods sho...
Q: If a particular fintech company is likely to disrupt anyaspect of the country’s financial system, sh...
A: When some good is manufactured, cost takes place for producing that particular good and then proces...
Q: Siven that 7 (5.72) = , how will demand change as the price changes? %3D O At a price of 5.72, a 1% ...
A: We have been given the price elasticity of demand at price 5.72 is equal to 7/3
Q: 6. When Karen uses money to buy her breakfast, she is showing the use of money as a unit of account....
A: In an economy, money is used for different purposes, which explains different functions of money at ...
Q: The current price of a non-dividend-paying stock is £39.0. Over the next year it is expected to rise...
A: The risk-free rate represents the interest an investor would expect from an absolutely risk-free inv...
Q: State whether the following statements are True, False, or Uncertain. Credits will only be given for...
A:
Q: (Black C ) QUESTION: "The basic objective of human evolution was to establish the value of tasks, re...
A: Government uses fiscal policy to increase net exports as well as government expenditure by increasin...
Q: Essay (6-8 sentences, please): Define and contrast the 4 forms of capitalism 1. Neoliberal market ca...
A: 1) Neoliberal market capitalism:- Neoliberalism is a strategy program that integrates political econ...
Q: Why a cashless society destory the international finance system?
A: Cashless economy is, when there is no cash flow within an economy, all transactions must be conducte...
Q: QUESTION 2 The pandemic of Covid-19 has signifigantly effect the world economy and suppose our gover...
A: Taxes has been one of the important factors in establishing a fiscal policy and making sure people a...
Q: A certain office equipment has a first cost of PhP 20,00 and has a salvage value of PhP 1,000 at the...
A: First Cost = 20,000 Salvage value = 1,000 Time period = 10
Q: A widespread disease has wiped out many dairy herds, and cooking with cheese has become a new trend ...
A: Here, it is given that some of the dairy herds are wipped out due to widespread disease. At the same...
Q: In the US, drug companies receive a patent of 100 years for each drug they develop. This allows them...
A: At the center of the country's drug pricing evaluating issue is one principal reality, Drug organiza...
Q: Consider the classic consumer's choice problem of an individual who is allocating Ý dollars of wealt...
A: Given information Two goods=C1 and C2 Price of good C1=P1 Price of good C2=P2 Income=Y Utility funct...
Q: In an Edgeworth box, illustrate that a Pareto-efficient equilibrium, point a, can be obtained by com...
A:
Q: 5 What are the two rules for writing that were most interesting or important to you and why? Add two...
A: The two most important rules in writing for me is:- Number 1) Whenever you write anything whether an...
Q: the following statement TRUE or FALSE? Please provide reason for the answer. A fall in the price le...
A: Demand & supply, in economic matters, connection between the amount of a ware that producers wis...
Q: Should the Imitation Gap Theory be discarded as a practical explanation of trade pattern? Please cit...
A: No, the Imitation Gap Theory is not to be dismissed as a viable explanation for trade patterns. In 1...
Q: o
A: Given 1st choice = 13747 lumpsum payment today 2nd choice = 150 $ monthly for 9 years Interest rate ...
Q: 3- Given the way the MPI is designed, there are some aspects that may not be captured. For instance,...
A: True the Master Patient Index (MPI) is one of the tools that discusses about the broad function and...
Q: How is a basket of goods and services used to measure the price level?
A: Inflation is defined as the rise in the average price level of commodities and services in the econo...
Q: Suppose you invest $2000 today, another $200 one year from now, and still another $800 two years fro...
A: Introduction Suppose today you have 2000 dollar then you add 200 dollar in 1 year. Then it will beco...
Q: The stock market experienced massive growth following President Trump's election in 2016, surging ne...
A: Massive growth following President Trump's election in 2016 There was a massive growth in the stock ...
Q: Social fluidity is all about transformation that results from social actions and reactions in respon...
A: Concept Members from various classes have varied possibilities of landing in one destination class v...
Q: what is the purpose and functions of inside money transfer?
A: In Democratic government system typically, it has been observed that there is both public and privat...
Q: Buyers as a group determine supply, and sellers as a group determine the demand of the product a. ...
A: Buyers are those who buy anything from the market. Buyers engage in the purchase of goods and servic...
Q: What is the profit maximization condition
A: Meaning of Market: The term market refers to the situation under which the producers or the seller...
Q: The production possibility frontier (PPF) in the Grossman model is as below. Individuals would never...
A: ANSWER Free lunch zone = Area where small improvements in health, yield large improvements in prod...
Q: It is important of both manufacturing and service sectors have the widest variation in the developin...
A: The developing country is one that is trying to expand its economic activities in the rest of the wo...
Step by step
Solved in 2 steps
- explain two reasons why wages are sticky. please provide clear examples and details for 2 reasons and be organizedAssuming a perfectly competitive labor market, what should an increase in the minimum wage do to the quantity of labor demanded? What should it do to the unemployment rate? Explain why and include a graph/s.Are wages more sticky upwards or downwards? Why? Explain.
- The next note that changes in oil prices can affect the inflation-unemployment outcome. Explain what effect changes in oil prices may have on these two variables.In the beginning of a recovery after a recession, employment begins to rise and the news media report these data on job growth. a) would such a report have an impact on the labor force ? b) how would it effect the unemployment rate?QUESTION 13 "Consider the labor market in year 2021 but now assume that wages are totally rigid and cannot adjust during 2021. In this year business owners predict low sales for the years to come. As a result, they reduce labor demand. Draw the new equilibrium in a diagram and label it as point C. Use the following equations to find the new equilibrium: LD-70.000-w, LS-b+2w, where b-10,000. What is the unemployment rate? Keep in mind that wages are totally rigid and use the diagram to help you understand what is going on." 43 percent 22 percent. O 20 percent None of the other options
- Use a graph to explain the trade‐off between inflation and unemployment.Inflation and Unemployment in China - provide a brief explanation of the implications of the observed trends for the particular business Starbucks with References & links to the references please.Structural Unemployment occurs when wage is kept above equilibrium. There are three reasons for this. Explain.
- Define the term Producer Price Index?While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other wands, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?If inflation rises unexpectedly by 5, indicate for each of the following whether the economic actor is helped, hurt, or unaffected: A union member with a COLA wage contract Someone with a large stash of cash in a safe deposit box A bank lending money at a fixed rate of interest A person who is not due to receive a pay raise for another 11 months