why there were black markets

Q: Which of the following will always produce a "black market?" a. public goods b. negative…

A: Black market refers to the situation where the goods are sold at a rate higher than the price fixed…

Q: Using a supply and demand diagram, show a labor market with a binding minimum wage. Use a diagram to…

A: The markets are the place of interaction and meeting for the buyers and sellers. In the markets, the…

Q: Why do some price controls help create black markets?

A: Price control is the situation when the ruling authority/government intervene in the market to…

Q: A price floor for commodity crops would always make farmers better off. True or false?

A: "A price floor is referred to as a limit on how low price can be charged for a commodity."

Q: How likely is it that a person might be discriminated against in the workplace?  Why do you think…

A: Workplace discrimination can manifest as isolated incidents or as significant, ongoing dynamics,…

Q: Draw a supply and demand graph showing rent control. Indicate the black market price. Does rent…

A: Rent-controlled properties create substantial negative externalities on the nearby real estate…

Q: 3-4 paragraphs Support a higher minimum wage. Analyze the challenges that this will be for…

A: A higher minimum wage would be above the equilibrium wage. Government provides higher minimun wage…

Q: Suppose you were preparing a memo for the White House on the effects of a large increase in the…

A: A large increase in the minimum wage would mean that workers would at least get that as wage. This…

Q: Can Hispanics be treated as a single market?

A: It is a community in America's subculture. they have a population of 50,000,000 people which is near…

Q: Many states have laws that limit the maximum amount of interest that a lender can charge a borrower.…

A: The study of economic systems is known as economic analysis. It could also be an investigation into…

Q: What is a minimum wage? Explain why it may fail to help the poor households in an economy.

A:

Q: issues that come under collective bargaining

A: Collective bargaining is the way of negotiating between the individuals related to working…

Q: Are teenagers better off when a higher minimum wage enables some to earn higher wages but causes…

A: The minimum wage if happens to be larger than the equilibrium wage would cause a rise in…

Q: Would you support the minimum wage law? Would this help or hurt the workers? Defend your answer.

A: Wage is a monetary charge made for labor or services on a regular, monthly, or piecework basis,…

Q: Why do shortages develop under a binding price ceiling? a) O a) A ceiling makes the price so low…

A: The government imposed maximum price that a seller could charge for its product is the price…

Q: The diagram to the right shows a market in which a price floor has been imposed Identify the…

A: The price floor is the price set above the equilibrium price. Thus, price is set at $4.

Q: Why is the black market a problem?

A: The black market is also known as underground economy. It refers to the market whose transactions…

Q: What is the black market you have personally seen?

A: Black markets are the version of markets where the perceptive buyers and sellers carry on their…

Q: What is the difference between the primary market and thesecondary market?

A: A market is a place where the trading, buying and selling of the goods and services, commodities,…

Q: What is the right of subrogation? When does the right of subrogation arise?

A: Subrogation by contract is a common occurrence in insurance contracts.

Q: what makes contractualization inhumane or violent the rights and dignity of a worker?

A: The practice of hiring people for a limited time before firing them is known as contractualization.…

Q: Black markets often emerge when products/services are banned or subject to price controls. They are…

A: A black market refers to a market in which goods and services are sold illegally. The way through…

Q: Why do most economists oppose price ceilings and price floor? What are their negative consequences?

A: The government determines the maximum price for a good or service. Price ceilings keep prices from…

Q: ns to market equilibrium if the government amount of discharge permitted to Q**? s on the graph.

A: In this case the government reduces the discharge permit to Q**.

Q: What are the two organizations that run national campaigns in the USA?   AARP and NAACP NRA and…

A: The Federal Election Commission authorizes federal mission finance laws, including checking gift…

Q: the development of a black market. the limitation of the volume of transactions. favoritism.

A: A scalper, with regards to showcase supply-demand hypothesis, likewise alludes to a huge amounts of…

Q: Give reasons why there should be no minimum wage laws

A: Minimum wages are defined as the minimum amount of remuneration required by an employer to pay wage…

Q: Why was Rice Tarrification Law became a law in the Philippines?

A: Rice Tarrification Law: It is the Law which is basically related to rice trading. Tariff means means…

Q: Analyze the role of the government when determining prices in markets

A: Governance is one of the main factors in deciding consumer prices. The government takes its stand…

Q: Economic theory states that a wage set about the equilibrium will create a surplus of labor. Are…

A: Surplus of labor implies unemployment in the market due to the oversupply of labor. Labor unions…

Q: How many states have increased their minimum wage since 2009?

A: As employees are motivated by rising salaries, raising the minimum wage aids in enhancing employee…

Q: Steve decides not to rent out his second home since he is not allowed to set the rate above $1000…

A: This is an example of price ceiling.

Q: Are minimum wage laws efficient? Why or why not?

A: Minimum wage law: When the government or its institutions made it mandatory in the eyes of the law…

Q: Economic theory suggests that an increase in the minimum wage will prompt firms to hire fewer low…

A: The wage and the quantity of the labor would be determined by the labor demand and supply in the…

Q: What is rent control?

A: Rent: It means the amount regularly paid for using land, house, or building.

Q: What are the pros and cons of increasing the minimum wage

A: Employers who give higher wages to their employees are said to be paying efficiency wages. This…

Q: The government intervenes by setting a minimum price to buy at of 600$. What type of Price control…

A: The price control is the government policy of pricing practice to regulate the economy with the…

Q: How do minimum wages affect wages, employment, and unemployment?

A:

Q: The market of labor force of food delivery is characterized by the chart below. The government…

A: The government decides to protect the citizens and establish the minimum wage on the level of  UAH…