Microeconomics Answers

The short run aggregate supply curve upwardvsliping because

The effect of a change in the price level on consumer' s purchasing power is called

The general level of prices (represented by, for example, CPI) in the south African economy decelerated from 9% in 2009 to 4% in the first quarter of 2018. Based on this information, the south African reserve bank (SARB) is likely to - repo rate, which will result in a (n) -.

The aggregate demand curve shows

If Jane were to increase her study time from three hours to four hours a night, her grade point average would increase from 2.5 to 3.2. Calculate Jane's elasticity of grade point average with respect to hours studying and interpret your resul

With regard to coal shortages and municipal debts,what forms of intervention do you think Eskom can put in place in order to cover up for all the debts and continue operating?Incorporate relevant graphs in your answer.

A minimum wage in a perfectly competitive labour market

a) will normally be imposed below the equilibrium wage.
b) which is imposed above the equilibrium wage, will lead to excess demand of labour.
c) which is set above equilibrium wage, will lead to unemployment.
d) can be instituted in an attempt to exploit low-wage workers and depress their living standards even further.

There are five potential suppliers of a therapeutic massage. Sally, Simon, Sonia, Stewart and Sam are each willing to provide one therapeutic massage. Their respective opportunity costs are: $1, $3, $5, $7, and $9. There are five potential consumers of a therapeutic massage. Cath, Colin, Chloe, Chris and Cassie are each willing to purchase one massage. Their respective willingness to pay is: $16, $13, $10, $7 and $4. In a competitive equilibrium, what is the price of a massage? Who will buy a massage and who will sell a massage? What is the total surplus, consumer surplus and producer surplus? Illustrate your answer with a diagram.

Using the NPV of migration model; explain why migration can be seen as an investment in human capital? Is there a positive correlation between migration, remittances and poverty reduction? Research and write evidence of this for your own country.

‘In the Becker’s taste-for-discrimination model, discrimination is practiced even though it is costly to do so. However, in the statistical discrimination model, it is clear discrimination pays’ Distinguish between the two discrimination models and comment on the statement.