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.

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 ago

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.

Question

8. Using two demand and supply diagrams, one for the low-wage labor market and one for...

Solutions

Expert Solution

Related Solutions

Draw two economic supply and demand diagrams (one for unregulated market and one for carbon tax...

1. Draw two separate demand and supply diagrams to represent the beer market – one for...

Using supply and demand diagrams, show the effect of the following events on the market for...

Using the demand and supply diagrams (one for each market), show what short-run changes in price...

what are the impacts of COVID-19 on labor demand and supply for low-wage workers for both employed workers

5. Minimum-wage laws and unemployment Consider the market for labor depicted by the demand and supply...

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.

Explain the effects of each situation below on the market demand and supply using suitable diagrams....

Using supply-and-demand diagrams, show the effect of the following events on the market for solar panels....

Explain the effects of each situation below on the market demand and supply using suitable diagrams....