Search & Filtering
A higher coffee price (substitute for tea) will shift the demand curve to left. True/false?
Consider how the economy has performed throughout your life. Identify a time you believed the economy was in a peak or a trough. When was the economy expanding? When was it contracting? Describe the overall trajectory of the economy throughout your life.
Consider how the economy has performed throughout your life. Identify a time you believed the economy was in a peak or a trough. When was the economy expanding? When was it contracting? Describe the overall trajectory of the economy throughout your life.
Explain the relationship between inflation and unemployment through the Phillips Curve.
What are the effects of minimum wage on labor market (both labor demand and labor supply)?
Explain each different types of unemployment.
1. Explain each different types of unemployment.
2. What are the effects of minimum wage on labor market (both labor demand and labor supply)?
3. Explain the relationship between inflation and unemployment through the Phillips Curve.
Both coffee and tea are perfect substitute to each other. Explain how the increase of salary for Mr. John who is a coffee lover would affect:
1) his consumption on coffee
2) how would Mr John react to his consumption of other goods that are considered complementary such as a bowl of noodle as his income increases
Indicate in each of the following instances whether specified events would cause a worker to want to work more or fewer hours
a) The wage rate rises and the substitution effect is greater than the income effect
b) The wage rate falls and the income effect is greater then than substitution effect.
explain the effect of the tax has on consumer surplus and producer surplus
