List the major causes of wage differentials.

Q: Which of the following conditions does NOT describe afirm in a monopolistically competitive market?a...

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers...

Q: The slope of the AS curve:Why does the AS curve slope upward?

A: Aggregate supply:   Aggregate supply refers to all final goods and services produced and supplied in...

Q: Economist George Stigler once wrote that, accordingto consumer theory, “if consumers do not buy less...

A: A change in income affects the choice of the consumer. When the purchase of a good does not decrease...

Q: Explain whether each of the following events shiftsthe short-run aggregate-supply curve, the aggrega...

A:   a.       When households decide to save a large share of their income it leads to decrease in the ...

Q: If the yield curve suddenly became steeper, how wouldyou revise your predictions of interest rates i...

A: The yield curve represents the relationship between the yields of fixed interest securities and matu...

Q: Draw the demand curve, marginal revenue curve, average total cost curve, and marginal-cost curve for...

A: In the above diagram, the equilibrium of monopoly is determined at point “e” where the condition of ...

Q: Which of these challenges is Israel's economy facing?   A. It is too dependent on exporting oi...

A: Israel has considered one of the highly advanced and knowledge-based economies though it is relative...

Q: Suppose the inflation rate remains relatively constantwhile output decreases and the unemployment ra...

A:   Meaning of Aggregate Demand Function: Aggregate demand function can be defined as the maximum expe...

Q: Suppose that a new entry has decreased your demand elasticity from –2 to –3 (made demand more elasti...

A: In order to measure market power Lerner index is taken. Formula of Lerner index (LI) = (P – MC)/P It...

Q: Why is survival time considered to be a good indicator of health status?   A. It measures hea...

A: Survival time is considered to be a good indicator of health status because it measures the accounts...

Q: Sophie pays Sky $50 to mow her lawn every week.When the government levies a mowing tax of $10 onSky,...

A: Consumer surplus (CS) is the difference between consumer’s willingness to pay and equilibrium price....

Q: In light of the recent financial crisis of 2007–2009, doyou think that the firewall created by the G...

A: The Glass-Steagall Act was passed on 23rd May, 1933 by the House of the Representatives. The main pu...

Q: A current debate in education is whether teachersshould be paid on a standard pay scale based solely...

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per se...

Q: Consider the following table of long-run total cost for four different firms:    Which firms have di...

A: In the long run, as the inputs are of variable nature, a firm’s expansion activities can either incr...

Q: From 2008 to 2012, in the aftermath of the financialcrisis, the ratio of government debt to GDP in t...

A: During 2008 to 2012, the US economy was under a financial crisis. The slowdown in economic activity ...

Q: The decline in hospital days per 10,000 population between 1980 and 2007 reflects:   A. An in...

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first ques...

Q: The Tire Factory (TTF) is a regional automotive repair chain that provides quick service for simple ...

A: The Tire Factory explained to the managers of the two body shops that who agree to charge the smalle...

Q: An American buys a pair of shoes made in Italy.How do the U.S. national income accounts treatthe tra...

A: A net export refers to the difference between imports and exports. Thus, an increase in imports caus...

Q: Would each of the following groups be happy orunhappy if the U.S. dollar appreciated? Explain.a. Dut...

A: Currency Appreciation: Currency appreciation means an increase in the value of domestic currency aga...

Q: A)Use the following schedule for monopolist to create TR,MR and find estimation.include weather dema...

A: The price elasticity of demand depicts the responsiveness of change in the quantity demanded of a co...

Q: A perfectly competitive fim has the following total cost function: Total output Total Cost 20 1 30 2...

A: The competitive firm determines the profit-maximizing price and output at the level where the margin...

Q: Unemployed adults are the major contributor to the uninsured adult population under age 65.  True  F...

A: Unemployment occurs when a person who actively seeks a job is unable to find a job. Unemployment is ...

Q: Beleaguered State Bank (BSB) holds $250 million indeposits and maintains a reserve ratio of 10 perce...

A: a. When the commercial bank accepts the money from the depositors in the economy, it means that the ...

Q: the second image displays the function given in section 8.3.4 as mentioned in the question

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Q: What does behavioral economics have to say about each of the following statements? a. “Nobody is tru...

A: There are many other theories and concepts under behavioral economics that would relate to the chari...

Q: Relate why firms can benefit from their innovation even though rivals have an incentive to imitate i...

A: A firm’s capacity of innovation reveals the scientific team’s efficiency and the general ability of ...

Q: Why have some economists described money during ahyperinflation as a “hot potato” that is quickly pa...

A: Hyperinflation is a condition in which a country experiences a very high rate of inflation. For exam...

Q: Complete the following table.     Units           TFC       TVC    TC       AFC       AVC      AC  ...

A:

Q: Do the forces of economic competition tend toexacerbate or ameliorate racial discrimination?

A: Discrimination refers to the provision of different opportunities or benefits to similar individuals...

Q: Explain why the following statements are false.a. “The aggregate-demand curve slopes downwardbecause...

A: In macroeconomics, economic fluctuations are generally studied using the concepts of the aggregate d...

Q: . Suppose you read that prospects for stronger futureeconomic growth have led the dollar to strength...

A: A. A more expensive dollar will result in less exports and more imports of US due to which the net e...

Q: What are the costs and benefits of a too-big-to-fail policy?

A: The too-big-to-fail policy is the policy which applies to large uninsured borrowers or creditors of ...

Q: Consider your decision about how many hours towork.a. Draw your budget constraint assuming thatyou p...

A: a. In the above diagram BL' represent the budget constraint when there are no taxes on income and B...

Q: a. Draw the cost curves for a typical firm. Explain how a competitive firm chooses the level of outp...

A: The perfect competition market consists of a large number of sellers who are price takers as the mar...

Q: Discuss how the monopoly and monopolistic competition market structures differ from perfect competit...

A: Monopolistic competition refers to the situation where there are many firms exists in the market. Pr...

Q: If policymakers use a pollution tax to control​ pollution, the tax per unit of pollution should be s...

A: If policymakers use a pollution tax to control​ pollution, the tax per unit of pollution should be s...

Q: Define the economies and diseconomies of scale and depict graphically how they relate to the long ru...

A: There are three types of returns to scale- Economies of scale The constant return to scale Diseco...

Q: Suppose electricity generates a negative externality in production If​ so, then   A. the ...

A: Negative externality refers to the act of spillover of costs to the third party. Marginal cost refer...

Q: Suppose that this year’s money supply is $500 billion,nominal GDP is $10 trillion, and real GDP is $...

A: Since there are multiple sub-parts in the question, only the first three sub-parts will be answered ...

Q: 1. Describe an incentive your parents offered to you in an effort to influence your behavior.   2. G...

A: An incentive is an extrinsic motivator that induces an individual to carry out or abandon a particul...