Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506893
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 3, Problem 8CQ
To determine
Explain the statement in which industries are winners and losers.
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Microeconomics: Private and Public Choice (MindTap Course List)
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- Show how a fall in the matching efficiency technology can effect output, wages, the unemployment and vacancy rates. How could economists differentiate this from a fall in labor productivity if they could view the four above pieces of data over many years? [In other words, how would these two events produce different patterns in the data?]arrow_forwardI feel that the strongest moral consideration in favor of capitalism would be the freedom to pursue a business for private ownership or have private ownership of your own business by building it from the ground up. If you want to start your own business, you can do that. If you are interested in a specific job, you can figure out a plan to get yourself educated in that field, prove your worth through applying and interviewing, and you can eventually find yourself in that dream position through persistence and hard work. At the end of the day, it all depends on what you want to do. All of the pressure is on you to create the future you ideally want through the choices you make in the current market. I feel the strongest objection to capitalism is oftentimes the large majority of the profits go to the higher-up executives in many large companies. With the freedom of conducting business, upper management has the ability to control wages the way they feel necessary, which means the…arrow_forwardWhat does Marks consider to be the most important features of the industrial revolution? Which non-institutional factors explain why the industrial revolution occurred where it did? How does Marks criticize some of the institutional explanations of the industrial revolution?arrow_forward
- Why would multinational corporations from the U.S. be interested in emerging and developing markets (e.g. Latin America, Africa, Central and Southeast Asia)? Would MNCs be better off focusing their efforts on more industrialized markets (US, Canada, western Europe, Australia, Japan)? Explain?arrow_forwardWhy industrial sector is important in the Philippines?arrow_forwardWhat are the industrial policies of the United States?arrow_forward
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