In the pacific northwest, a hydroelectric dam is being removed from a river to improve salmon populations. While the change will have a positive long-term effect on the salmon industry, The loss of the dam will cause unemployment in the aluminum industry which relies heavily on the inexpensive electricity produced by the dam. The axes are best labeled salmon and unemployment The axes are best labeled salmon and dams The axes are best labeled salmon and electricity The axes are best labeled salmon and aluminum

In the pacific northwest, a hydroelectric dam is being removed from a river to improve salmon populations. While the change will have a positive long-term effect on the salmon industry, The loss of the dam will cause unemployment in the aluminum industry which relies heavily on the inexpensive electricity produced by the dam. The axes are best labeled salmon and unemployment The axes are best labeled salmon and dams The axes are best labeled salmon and electricity The axes are best labeled salmon and aluminum

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 24CTQ: Macroeconomics is an aggregate of what happens at the Microeconomics level. Would it be possible for...

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Suppose that Congress passes a law requiringemployers to provide employees some benefit (suchas healthcare) that raises the cost of an employee by$4 per hour.a. What effect does this employer mandate haveon the demand for labor? (In answering this andthe following questions, be quantitative whenyou can.)b. If employees place a value on this benefit exactlyequal to its cost, what effect does this employermandate have on the supply of labor?c. If the wage can freely adjust to balance supply anddemand, how does this law affect the wage andthe level of employment? Are employers better orworse off? Are employees better or worse off?d. Suppose that, before the mandate, the wage in thismarket was $3 above the minimum wage. In thiscase, how does the employer mandate affect thewage, the level of employment, and the level ofunemployment?e. Now suppose that workers do not value themandated benefit at all. How does this alternativeassumption change your answers to parts(b) and (c)?
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How do economists define equilibrium in financial markets?
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You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?
Supply chain shortages have limited the number of microchips available to car manufacturersin the US. Since every new car needs microchips to control it, we can think of a limit on thenumber of microchips as a quota on the production of new cars. If this quota is binding,which of the following may be a market consequence of a production quota on new cars in theUS market? Do not worry about the underlying facts; only whether the explanations makeeconomic sense given our model. (Select one or more) (a) The quantity supplied of new cars will rise to meet the quota.(b) The quantity supplied of new cars will fall to meet the quota.(c) The quantity supplied is unaffected by a binding quota.(d) The price of new cars will rise until there is no excess demand.(e) The price of new cars will fall until there is no excess demand.(f) Consumer surplus will increase as a result of the quota.(g) Consumer surplus will decrease as a result of the quota.(h) Consumer surplus will be unaffected by the…
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WTO presented mitigation ways to counter the impact of covid 19 to the global tourism industry market, what are the priorities for tourism recovery mentioned? 2. What were the immediate steps taken by the Philippine DOT to counter the effect of the COVID 19 pandemic in the local tourism industry. 3. How do you understand this quote " THE FILIPINO SPIRIT will be THE DRIVING FORCE THAT WILL JUMPSTART THE NATION TOWARDS RECOVERY". 4. As per the seminar, domestic tourism or domestic travel market will be the first to recover post-pandemic. How is it so? 5. What were your personal takeaways/learnings from the webinar?
How do minimum wages affect wages, employment, and unemployment? In a competitive labor market, the demand for workers is given as QD = 10,000 - 100W, and the supply of workers is given as QS = 2,000 + 1,900W, where Q is the quantity of workers employed and W is the hourly wage. What is the initial equilibrium wage and employment level? Suppose that the government decides that $5 per hour is the minimum allowable wage in any market. How would this new minimum wage alter this market? What would the new employment level be? What would happen to total payments to labor? Would there be any excess supply of labor? If so, how much?
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