Question
In: Economics
8. Using two demand and supply diagrams, one for the low-wage labor market and one for...
8. Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage labor market, explain how information technology can increase income inequality if it is a complement to high-income workers like salespeople and managers, but a substitute for low-income workers like file clerks and telephone receptionists.
Solutions
Expert Solution
In the commercial center for low compensation work, the interest
bend of low pay work will be moved to left as a result of usage of
information innovation. the explanation behind this moving is that
the usage of information innovation would supplant the use of low
compensation work strikingly the jobs like phonephone secretary or
the clerk.
Aside from this, the use of information innovation encourages the
organizations to claim a progressively hearty affiliation the board
with low compensation work in elective nations thus the interest of
low pay work will be diminished inside the economy.
When we comment the high pay work, the interest bend of the high
compensation work can move to the right in view of usage of
information innovation. The profitability of high pay work will be
improved by the execution of information innovation thus they'll be
prepared to deal with a great deal of assignments than
previously.
Rahul Sunny answered 1 year agoRelated Solutions
Draw two economic supply and demand diagrams (one for unregulated market and one for carbon tax...
Draw two economic supply and demand diagrams (one for
unregulated market and one for carbon tax market) for this example.
Be sure to show the P0/P1, consumer surpluses, producer surpluses,
and location of the tax on each diagram.
1. Draw two separate demand and supply diagrams to represent the beer market – one for...
1. Draw two separate demand and supply diagrams to
represent the beer market – one for Canada and one for Colorado. Be
sure to label your graph properly (title, axes, curves,
equilibrium, etc.) – your graph should be stand-alone which means a
reader can easily interpret your graph. Show how the legalization
of marijuana in each location has impacted the market for beer.
Make sure you clearly indicate which curve shifts and compare the
old equilibrium to the new one.*...
Using supply and demand diagrams, show the effect of the following events on the market for...
Using supply and demand diagrams, show the effect of the
following events on the market for sweatshirts.
A hurricane in South Carolina damages the cotton crop.
The price of leather jackets falls.
All colleges require morning exercise in appropriate attire.
New knitting machines are invented.
Each original post should include four diagrams with an
explanation for each. Respond and engage with at least two of your
classmates. NOTE: diagrams can be created using a MS Office
product, or drawn by...
Using the demand and supply diagrams (one for each market), show what short-run changes in price...
Using the demand and supply diagrams (one for each market), show
what short-run changes in price and quantity would be expected in
the following markets if terrorism-related worries about air safety
cause travelers to shy away from air travel. Each graph should
contain the original and new demand and supply curves, and the
original and new equilibrium prices and quantities. For each
market, write one sentence explaining why each curve shifts or does
not shift.
The market for air travel....
what are the impacts of COVID-19 on labor demand and supply for low-wage workers for both employed workers
what are the impacts of COVID-19 on labor demand and
supply for low-wage workers for both employed workers (e.g.,
package, food service, or food delivery workers and grocery store
employees) and unemployed or furloughed workers
5. Minimum-wage laws and unemployment Consider the market for labor depicted by the demand and supply...
5. Minimum-wage laws and unemployment Consider the market for labor depicted by the demand and supply curves that follow. Use the calculator to help you answer the following questions. You will not be graded on any changes you make to the calculator. Complete the following table with the quantity of labor supplied and demanded if the wage is set at $9.00. Then indicate whether this wage will result in a shortage or a surplus. Hint: Be sure to pay attention to the units used...
Suppose that the market for unskilled labour in Canada is such that the wage (price of labor) and employment (quantity of labor) are determined by supply and demand.
Suppose that the market for unskilled labour in Canada is
such that the wage (price of labor) and employment (quantity of
labor) are determined by supply and demand. Suppose further that
the Canadian government, concerned by the low revenues on the
market, decides to introduce a minimum wage. Suppose that initially
the equilibrium wage is CAD 1000 and the equilibrium quantity of
unskilled workers is 1,000,000 and that the government decides to
impose a minimum wage of CAD 1200.(a) Knowing...
Explain the effects of each situation below on the market demand and supply using suitable diagrams....
Explain the effects of each situation below on the market demand
and supply using suitable diagrams.
A new skirt design which increases the preferences for the
Asshanas clothing brand among teenagers.
A government ban on the supply of meat from New
Zealand.
The increased price of chicken feed and hos this affects the
chicken
market.
The effects of the Goods and Services Tax (GST) on smartphone
purchases.
Using supply-and-demand diagrams, show the effect of the following events on the market for solar panels....
Using supply-and-demand diagrams, show the effect of the
following events on the market for solar panels. Do the following
for each example: 1) Explicitly write which curve moves. 3)
Explicitly write which direction it moves in. 4) Explicitly write
what happens to equilibrium price. 5) Explicitly write what happens
to equilibrium quantity. Note: Drawing the diagrams is not required
for the exam, but doing so should still help you to answer the
question.
(a) (4 points) There is an increase...
Explain the effects of each situation below on the market demand and supply using suitable diagrams....
Explain the effects of each situation below on the market demand
and supply using suitable diagrams.
a. A new skirt design which increases the preferences for the
Asshanas clothing brand among teenagers.
b. A government reduce the import rate on the supply of meat from
New Zealand.
c. The decrease in price of chicken feed and hos this affects the
chicken market.
d. The effects of the Goods and Services Tax (GST) on smartphone
purchases.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- The Facts: Ann and Bill decided to start a coffee shop. They agreed Bill would provide...
- MARGI sells different types of wine. Customers place orders to the most popular “Summer Wine” at...
- A firm's bonds have a maturity of 8 years with a $1,000 face value, have an...
- Naive reasoning suggests that a string theory vacuum with cosmological constant Lambda1 is always unstable as...
- I. Design and code a class Rectangle that has the following properties: Two private members double...
- A bond has a $1,000 par value, 10 years to maturity, and an 8% annual coupon...
- The following are the monthly rates of return for Madison Cookies and for Sophie Electric during...
ADVERTISEMENT