Q2 Workers' skills in one industry do not affect the labor market in other industries. True False Q6 According to the segmented labor market theory, firms in competitive markets have no real incentive to eliminate the wage gap once it is established. False True Q8 The competitive labor market determines the equilibrium wage and employment on the basis of market supply and demand. False True Q9 State officeholders have an incentive to placate large public unions if they want to be re-elected. False True

Q: As the price level decreases, the cost of borrowing money will (remain the same/increase/decrease)…

A: In economics, the term "aggregate demand" refers to a metric that measures the overall demand for a…

Q: Consider the following linear program: Maximize 30X + 10Y Subject to: 3X + Y ≤ 300 X + Y ≤ 200 X ≤…

A:

Q: a market is characterized by a positive externality that is not the result of a technology…

A: Externalities are the harmful or beneficial side effects arise out of production or consumption of…

Q: A class uses weighted averages to calculate your course grade.  Homework, quizzes, and discussions…

A: Given information: A class uses weighted averages to calculate your course grade. Homework, quizzes,…

Q: In the long run, what are the factors that will lead to lower interest rates?

A: Lending money comes with a charge called an interest rate. Alternately, it might be the payment for…

Q: Should the government use monetary and fiscal policy in an effort to stabilize the economy? The…

A: Government policy is a declaration of the political initiatives, approaches, and objectives of the…

Q: Minimum Wages and Unions Assume an industry without legal minimum wages and unions. Show in a…

A: The minimal amount of remuneration that an employer is compelled to pay wage earners for the job…

Q: In order to maximize profits, a monopolist would increase output__ A) as long as the marginal…

A: Monopoly is a type of market in which there is only one seller in the entire market.

Q: Your money demand is the amount of money you wish to Group of answer choices earn per hour.…

A: Money demand refers to the desired holding of financial assets in the form of cash and deposits…

Q: A successful political organization must maintain its coalition. It is often said they must diffuse…

A: A coalition is a collection of several interest groups that band together to pool their personal and…

Q: do you believe that a government setting up tariffs and other restrictions to curb outsourcing is a…

A: Governments establish trade barriers to restrict free trade among economies. Trade barriers are…

Q: Question Q2 Identify on the graph below the marginal external cost (MEC) at the market equilibrium.…

A: Externality is the external cost / benefit that is borne by the third party.  The positive…

Q: Suppose there is some hypothetical closed economy in which households spend $0.75 of each additional…

A: The aggregate demand/aggregate supply model is a model that shows what decides total supply or total…

Q: Consider an aggregate production function of the form Y= K⅓(AL)⅔ Assume that the labor force is a…

A: GDP per capita is calculated by dividing the total gross value added by all producers who are…

Q: Assume there are two individuals stranded on a deserted island. One of the individuals chooses to…

A: Externalities are described as costs or advantages incurred by a producer but not covered by the…

Q: Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting…

A: Marginal profit refers to the profit earned by the sale of one extra unit of a good or service.

Q: The demand for labor is called OAbsolute demand ODerived demand OMinimum wage demand OActual demand…

A: Absolute demand refers to our desire or need for specific goods such as food, water, transportation,…

Q: Using the following information, calculate the Net Value Added at Factor Cost. Sales…

A: Net value added method at factor cost explains the concept of gross income from the all the goods…

Q: Assignment #1 A large wood products company is negotiating a contract to sell plywood overseas. The…

A: Firms will continue to increase their production until it reaches their optimum amount. The optimum…

Q: What is the answer for d and e?

A: Introduction ( General terms) The term "marginal private cost" (MPC) refers to the variation in a…

Q: 10. A social indifference curve shows a . all allocations that yield the same total utility to…

A: The social indifference curve gives different combination of utilities of 2 individuals such the…

Q: Use the IS Equation, S(y) + M(y) = I(r) + X, to derive the slope of the IS curve. Describe the…

A: The combinations of real interest rate (r) and Output(Y) at which G(goods) market is in equilibrium…

Q: Table: The market for taxi rides Fare (per ride) $7.50 7.00 6.50 6.00 5.50 5.00 4.50 44.00 3.50 3.00…

A: The equilibrium is where the demand curve intersects the supply curve.  The tax revenue is the…

Q: IC OM B D X Life/years OY OZ OW OV Y Z $320,000 $340,000 $45,000 $35,000 $110,000 $210,000 $20,000…

A: Benefit/Cost Ratio. Measure computed by dividing the incremental monetized benefits associated to a…

Q: U(x, y) = xayb A consumer maximises utility subject to a budget constraint M = Pxx+Pyy Where px is…

A:

Q: For the cash flows shown in the diagram, determine the value of x and 2x that will make the future…

A: The future value formula is given as: F = P (1+R)t F: future value P : present value R : per annum…

Q: You have 1 account:   The balance owed is $405 and a $1500 credit limit.   What is your…

A: The debt-to-credit ratio is estimated as a percentage of total available revolving credit which an…

Q: If a monopolist is producing electricity, then the monopolist will produce a quantity that is _____…

A: A monopolist will produce where MR = MC  MR is the marginal revenue and will be defined as the…

Q: Suppose the price elasticity of demand for Valencia face-to-face and online classes is 3.83 and .72…

A: The price elasticity of demand shows the percentage change in quantity due to percentage change in…

Q: Luke is an engineering consultant who lives North Carolina and works around the world. In 2019 Luke…

A: GNP: Gross National product is the sum of the monetary values of all goods and services that are…

Q: There are two goods and John's preferences can be represented by u: R30→R given by u(x) = x₁x₂. His…

A: Given Utility function U=X113X223Price of the X1=P1=1Price of the X2=P2=2Income=12Budget…

Q: How much is this monopolist's profits? a) The area bounded by CAJGC. Ob) The area bounded by BAJHB.…

A: A monopolist will produce where MR = MC  MR is the marginal revenue and is defined as the revenue…

Q: Suppose there is some hypothetical closed economy in which households spend $0.75 of each additional…

A: Spending Multiplier: The spending multiplier estimates the rate at which total spending will change…

Q: John is a 55-year-old male smoker, about 50 pounds overweight, who has high blood sugar and drinks…

A: Adverse Selection occurs when either of the two parties involved in a transaction ie buyers and…

Q: Suppose the residents of country P consume only peaches and pecans. The table below shows the prices…

A: Given consumption basket = 10 bushels of peaches and 15 bushels of pecans

Q: Suppose that you saved $4,700 at the beginning of the year and that at the end of the year your…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Satchel loses his job and immediately begins looking for another. Other things the same, the…

A: Labor Force consists of both employed and unemployed people. Labor Force Participation Rate…

Q: Stargell and Schmidt are brewing companies that operate in a duopoly (two-firm oligopoly). The daily…

A: Oligopoly markets are markets controlled by a small number of suppliers. They can be found in all…

Q: Required information Determine the amount of any depreciation recapture (DR), capital gain (CG), or…

A: The depreciation method utilized in the United States for tax reasons is known as the MACRS, or…

Q: According to the Keynesian framework, ___________ may cause a recession, but not inflation a. a…

A: Recession refers to a regular fall in GDP level in two or more successive years.

Q: In economics, what is an example of selection?

A: Economics refers to one of the branch of social studies which focuses on the living of people on the…

Q: You have been hired as a consultant by building contractor, who have been sued by the owners'…

A: Sample selection bias refers to the bias that occurs during the selection of the non-random data…

Q: Which of the following will most likely cause a decrease in the quantity of money demanded? Group of…

A: Law of Demand states that other things being constant as the price of good or service increases, the…

Q: What consumption differences might you expect to observe between families characterized as…

A: Socio-economic status plays an important role in what we can afford. Unprivileged individuals…

Q: Higher inflation makes relative prices Select one: O a. less variable, making it more likely that…

A: Inflation refers to rise in general price level of goods and services. Due to inflation, the…

Q: 2.5. An electric cooperative is considering the use of a concrete electric pole in the expansion of…

A:

Q: What is the socially optimal price of a barrel of oil? $ What is the socially optimal equilibrium…

A: Market Equilibrium is where demand curve equal to supply (private ) curve.  Social equilibrium is…

Q: The Ingersoll Engineering Company is considering the purchase of a gas flow meter. Its purchase…

A: Initial cost = $9500(purchase price) + $500(shipping and installing price) = $10,000 MARR = 10% Tax…

Q: Assume the country of Ballear is running a greater budget deficit and is forced to borrow large…

A: The exchange rate refers to the rate at which one country's currency is exchanged for the other…

Q: Suppose the inverse demand function is P = a −bQ, where a is the market price when Q=0 and b is the…

A: Given  Inverse demand function: P=a-Qb          ......(1) Firm 1 cost function: C1(Q1)=c1Q1…