In the market for labor, a wage ceiling is established above the equilibrium wage rate. Unemployment will __________ and employment will ___________. A. increase; increase B. increase; not be affected C. decrease; not be affected D. not be affected; not be affected
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In the market for labor, a wage ceiling is established above the equilibrium wage rate.
A. increase; increase
B. increase; not be affected
C. decrease; not be affected
D. not be affected; not be affected
A
A. the interest rate decreases.
B. the unemployment rate rises.
C. workers become less healthy.
D. the labor force increases.
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- “The Prime Minister claims that funding the increase in NHS and social care spending by national insurance [paying higher NICs] is preferable, because firms pay part of the cost. This is a fiction. In the long run the burden of payroll taxes, even those paid by companies, falls on workers, whose wages fall as their employers’ tax bills rise.” The Economist 11-09-202. Is “The Economist” right in its counter-claim? (Hint: use a market equilibrium model of demand and supply for labour)Are households demanders or suppliers in the goods market? Are firms demanders or suppliers in the goods market? What about the labor market and the financial market?In the labor market, what causes a movement along the demand curve? What causes a shift in the demand curve?
- A government passes a family-friendly law that no companies can have evening, nighttime, or weekend hours, so that everyone can be home with their families during these times. Analyze the effect of this law using a demand and supply diagram for the labor market: first assuming that wages are flexible, and then assuming that wages are sticky downward.Economics: Labor Economics Question: Labor demand and supply are given by w = 50 - 3Ed and w = 10 + Es. Please show work for each part. a.What is the equilibrium wage of this market? [a] b.What is the equilibrium number of workers employed in this market? [b] Suppose now a tax of $5 is added into this market. c.How much do workers receive as wage after this payroll tax? [c] d.How much do firms have to pay workers after this payroll tax? [d] e.What is the government tax revenue as a result of this payroll tax? [e] f.What is the amount of deadweight loss generated as a result of this payroll tax (do not round, write out entire number)? [f] Thank you for your support and help Study Agent!Women’s rising labor force participation might either increase or reduce marriage rates. Explain why the effect could go either way.
- Suppose the money wage rate rises from $40.00 to $46.20 an hour and consumer prices rises by 10 percent. What would be the effect in the labor market? We would expect _______ people to try to find a job and employed people to want to work _______ hours. A. fewer; shorter B. more; longer C. the same number of; the same number of D. fewer; longer The _______ would _______. A. quantity of labor supplied; decrease B. supply of labor; decrease C. quantity of labor supplied; increase D. supply of labor;What is the tax wedge?choose correct option. A) A tax wedge is the difference between the pretax and posttax return to an economic activity, For example, a tax on labor income would increase the posttax return on working B) A tax wedge is the difference between the pretax and posttax return to an economic activity, for example, a tax on interest income would decrease the posttax return to investment. C) A tax wedge is the difference between the pretax and posttax return to an economic activity, for example, a tax on coporate income would decrese the pretax return to investment. D) A tax wedge is the difference between the pretax and posttax return to an economic activity, for example, a tax on dividends would increase the pretax return to investment.a) Refer to the above diagram determine the number of unemployed, if thegovernment imposes a minimum wage of $8? (Show on the graph!) b) Discuss the result of a decrease in minimum wage that kept it above theequilibrium wage.
- What is the impact on the labour market due to a reduction in income tax rate? Select one: a. labour supply shifts to the left; wage rate increases and level of employment is lower a. labour supply shifts to the left; wage rate increases and level of employment is lower b. labour demand shifts to the right; wage rate increases and level of employment increases b. labour demand shifts to the right; wage rate increases and level of employment increases c. labour supply shifts to the right; wage rate decreases and level of employment is higher c. labour supply shifts to the right; wage rate decreases and level of employment is higher d. labour demand shifts to the left; wage rate decreases and level of employment decreasesThe minimum wage hike will mean a spike in unemployment: Study saysBy Jane Stevenson, Toronto Sun, September 19, 2017The Canadian Ontario government plans to set a minimum wage at $15 an hour. Currently, the median wage for low-skilled workers is $11.40. According to a study released Tuesday by the free enterprise Fraser Institute, the imposition of a minimum wage above current wages would lead to more unemployment for low-skilled workers. (D) (i) Below, complete the market for low-skill labor correctly labeling both axes and assuming demand for low-skill labor is perfectly inelastic; (ii) from information in the article, set out in the market the current equilibrium “price” and depict the equilibrium quantity for low-skill labor. (E) (i) Depict in the market above in (D) the establishment of a $15/hour minimum wage by the Canadian Ontario government, and (ii) set out in the market the new equilibrium “price” and the new equilibrium quantity for low-skill labor. (F) Is the graph…The minimum wage hike will mean a spike in unemployment: Study saysBy Jane Stevenson, Toronto Sun, September 19, 2017The Canadian Ontario government plans to set a minimum wage at $15 an hour. Currently, the median wage for low-skilled workers is $11.40. According to a study released Tuesday by the free enterprise Fraser Institute, the imposition of a minimum wage above current wages would lead to more unemployment for low-skilled workers. (A) (i) Below, complete the market for low-skill labor correctly labeling both axes and assuming the demand for labor has some elasticity; (ii) by the supply curve and demand curves, state who are the demanders and who are the suppliers; and (iii) from information in the article, set out in the market the current equilibrium “price” and depict the equilibrium quantity for low-skill labor. (B) (i) Depict in the market above in (A) the establishment of a $15/hour minimum wage by the Canadian Ontario government, and (ii) set out in the market the new…