- All Subjects
- Computer Science
- Electrical Engineering
- Information Technology
- Mechanical Engineering
- Project Management
Homework Help for Economics
Economics deals with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.
- Academic integrity
1- When a price ceiling is imposed, long lines are likely to follow. The value of the time wasted waiting in these lines should be equal to the difference between the market equilibrium price and the imposed price ceiling.
Suppose that demand for a good is given by Q = 122 - 3P, while supply for the good is given by Q = 1P - 20. The average person values their time at $12.29/hour. If a price ceiling of $11.04 is imposed, how many hours will the average person have to wait in line?
2- Suppose that demand for a good is given by Q = 132 - 3P, while supply for the good is given by Q = 2P - 5. If a price ceiling of $11.96 is imposed, what will be the area of the deadweight loss?
The unemployment rate is the percentage of workers who are seeking a job at the prevailing wage, but who are unable to get one. When a minimum wage is imposed, it creates some unemployment among minimum wage workers.
Suppose that the demand for labor is given by Q = 56 - 1W, where 'W' is the hourly wage rate, and the supply of labor is given by Q = 5W - 5. Imagine that a minimum wage of $22.68/hour is imposed by law.
What will be the unemployment rate for workers in this market?
Which of the following groups are likely to have the highest tax elasticity of labor supply:
a) college students
b) single parents
c) primary earners in two-parent families
d) secondary earners in two-parent families
e) retired people with average savings accounts and monthly Social Security checks coming in
MONEY AND BANKING
Assume that savers/lenders are risk averse. A decrease in default risk of Bond âAâ will _____ demand and price of Bond âAâ thereby resulting in _____ in yield of Bond âAâ.
a.) increase; decrease
b.) decrease; decrease
c.) increase; increase
d.) decrease; increase
EXPLAIN ANSWER PLEASE - credit will not be given with no explanation.
- Get a Booster Class
- Get college credits
- Transfer credits to your school
- We updated the core navigation of the site.
- We updated our settings and notifications.
- We updated our search experience.
- New Study Guides.