When the price elasticity of demand for a good equals: O a. 1, the demand curve is horizontal. O b. 0, the demand curve is horizontal. O c. 0, the demand curve is vertical. O d. 1, the demand curve is vertical.
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- Suppose the equilibrium wage is $10 per hour. A minimum wage is a and affects employment if it is set at Select one: O A. price ceiling: $12 per hour O B. price floor, $8 per hour O c price ceiling: $10 per hour O D. price floor, $12 per hourQUESTION 10 The demand for textbooks is Q-200-P+ 25U- 50Peer Assume that the unemployment rate Uand the price of beer Peer2. When the average price of a textbook is P$100, the price elasticity of demand is O -1.0. O-2.0. O -0.5. O -50. O5.0. QUESTION 11 If price is $12 when the price elasticity of demand is-1, then marginal revenue must be: O $24. O $18. O $12. O $6. O s0.Next question Fel The figure shows the labor market in a region. For a minimum wage to change the wage rate and amount of employment, it must be Wage rate (dollars per hour) 12 O A. left to the forces of supply and demand. 10 O B. set above $6 an hour. 8 O C. set below $6 an hour. O D. set at $12 per hour. O E. set equal to $6 an hour. 2 20 40 60 80 100 120 140 Quantity (thousands of workers) ouncem st Due As urrent Ass FEB 20 O Time Remaining: 00:58:15 Completed Next 1-significant figures and units of measure S Macintosh HD » Users » justinroditti » Downloads Feb 7 This course (EC Canc Q Search or enter website name @ 23 $ 2 3 4 & 5 6 8 9 W E R Y U P D F G H J K C V N M nd command op
- In recent years, unemployment rates in several European countries have been higher than unemployment rates in the United States. Many economists believe that European unemployment rates have been higher because O unemployment benefits are more generous in Europe than in the United States. O of the different methods used to measure unemployment. If similar methods were used, unemployment rates in Europe and the United States would be about the same. O European firms hire many seasonal workers from other countries, and this tends to inflate unemployment rates in their countries. O the size of the military is much larger in the United States and all military personnel are classified as employed.Suppose the money wage rate rises from $40.00 to $46.74 an hour and consumer prices rises by 14 percent. What would be the effect in the labor market? We would expect people to try to find a job and employed people to want to work hours. O A. fewer; shorter B. fewer; longer C. the same number of; the same number of D. more; longer The would A. quantity of labor supplied; increase O B. supply of labor; increase O C. supply of labor; decrease O D. quantity of labor supplied; decrease Click to select your answer. MacBook Air DII DD こ. 吕0 F9 F7 F8 F6 esc F4 F5 F2 F3 F1 & 2$ ! 5 6 8 9 1 2 3 4on A price-taking firm: O a. talks to rival firms to determine the best price for all of them to charge O b. asks the government to set the price of its product O c. sets the product's price to whatever level the owner decides upon O d. cannot influence the price of the product it sells Which of the following is a positive economic statement? O a. Governments should not redistribute income O b. Households are the primary sources of savings O c. The foreign sector should be more tightly controlled O d. Businesses ought to contribute more to charities
- What is the impact on the labour market due to a reduction in income tax rate? Select one: O a. labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour supply shifts to the left; wage rate increases and level of employment is lower O d. labour demand shifts to the left; wage rate decreases and level of employment decreasesles of Microeconomics || Fall20 A rent ceiling set below the equilibrium rent Select one: O a. ensures that landlords earn a reasonable rate of profit on apartments. O b. results in all renters and potential renters being better off. O c eliminates discrimination by landlords. O d. ensures the availability of enough low-rent apartments in a city. O e. creates a situation in which the quantity demanded of housing is greater than quantity supplied. Next ge 00 HUAWEI Nova 3 AI CAMERATable 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes, measured in millions of dollars, at various interest rates. What is the equilibrium interest rate and quantity in the capital financial market? How can you tell? Now, imagine that because of a shift in the perceptions of foreign investors, the supply curve shifts so that there will be 10 million less supplied at every interest rate. Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest tale shift makes intuitive sense.
- Which of the following could cause the shift from $1 to $2? O A. A decrease in the number of producers in the market. O B. An increase in Consumer incomes. OC. A reduction in the Prices of raw materials. O D. An increase in the tax burden on Producers. O E. An increase in worker wages. 54°F Sunny @2 S * W E X 3 D fa C 4 R 7 TI 40 % 5 V T 6 P O Search & Y 7 G H U ly 8 J ( 1 S1 S2 →Q K B N M POG L PMost government policy decisions have winners and losers. What are the effects of raising the minimum wage? It is more complex than simply producers lose and workers gain. Who are the winners and who are the losers? (May be more than one answer). O A. Marginal workers are losers if their job is a risk V B. People who keep their job are winners O C. People who can now go on welfare are winners V D. Consumers are losers because many goods and services will cost more O E. Businesses are winners because they will always have better workersThe equilibrium wage in a local labor market is $10 per hour. If a minimum wage of $15 per hour is imposed, which of the following will occur? Select one: a. There will be a decrease in the quantity of labor supplied by households. O b. There will be an increase in unemployment. O c. All of these will occur. O d. There will be an increase in the quantity of labor demanded by firms.