Earning some economic rent

Assignment Help Macroeconomics
Reference no: EM131049412

Two workers, X and Y, are roofers working on the same wage for the same firm. X earns more economic rent than Y. Which of the following statements is false?

a) X has lower transfer earnings than Y.

b) Because Y is earning some economic rent, the firm which hires Y could reduce the wage and Y would continue to work for that firm.

c) If the wage for roofers generally fell enough to persuade Y to take up another occupation, X might continue to be a roofer.

d) If we add up X's economic rent and transfer earnings, we would get the same figure we would get if we add up Y's economic rent and transfer earnings.

Reference no: EM131049412

Questions Cloud

Fed change the real federal funds rate : Suppose that inflation is 2 percent, the federal funds rate is 4 percent, and real GDP is 2 percent above potential GDP. According to the Taylor rule, in what direction and by how much should the Fed change the real federal funds rate?
Central london congestion charging scheme conversion : The city of London has been well known for its many historic sites, live theater, and heavy traffic. In spite of a sophisticated underground subway system known locally as the "tube," traffic delays, car exhaust, noise pollution, and vehicle-pedes..
How social media is changing the world in a better way : "How social media is changing the world in a better way with examples of peoples life changing ( politics, social media etc) and also on the other hand talk about how it can be affecting our health if not used in a proper way with examples."
Create maintain a detailed annotated list of resources : In a Wiki you will prepare a brief description of a data science project, for instance as listed for Assessment Task 3, followed by a table giving resources. The table would look like:
Earning some economic rent : Two workers, X and Y, are roofers working on the same wage for the same firm. X earns more economic rent than Y. Which of the following statements is false?
Americans with disabilities act enabling technologies : The Americans with Disabilities Act prohibits discrimination on the basis of disability in regard to public accommodations and commercial facilities.
Compute the risk-weighted assets : What is the largest single deposit outflow can the bank comfortably handle, using only primary and secondary reserves? Note that even after this outflow the bank should have sufficient required reserves. Find it to the nearest whole dollar. Comput..
Planning for success project planning : Projects have many dependencies, any of which could become points of failure. Without the cooperation or input from even one vital resource, a project may fail to meet its objectives. Effective project planning helps project managers think through..
What important lupus data features in building the tree : This problem illustrates the classification approach by using decision trees and the Lupus data. What are the most important three Lupus data features in building the tree

Reviews

Write a Review

Macroeconomics Questions & Answers

  Shareholder wealth maximization model

In the shareholder wealth maximization model, the value of a firm's stock is equal to the present value of all expected future ____ discounted at the stockholders' required rate of return.

  Percentage change in quantity demanded of good

If the cross­price elasticity between Good A and Good B is -1.5 and the percentage change in quantity demanded of Good B is 15%, what is the percentage change in the price of Good A?

  Government increases spending

Crowding out can be minimized, if at the same time that the government increases spending, it:

  Influence the supply and demand of a nurse position

Two principles of economics that help describe how wages are determined in a market economy, Think these principles when completing the project. Think of how they apply to labor market for nurses.

  What happened to the quantity of cups

Draw the budget constraint showing the trade-off between dining hall meals and Cups O’ Soup. Assuming that he spends equal amounts on both goods, draw an indifference curve showing the optimum choice. Label the optimum as point A.

  Debt problem in lcds except

There are accurate statments about the debt problem in LCDs EXCEPT that is in some countries, debt is greater that GDP or else.

  Macroeconomic models

The fear of unwanted price wars may explain why many firms are reluctant and suppose that a new machine tool having a useful life of only one year costs $80,000. Exam: 050474RR - MACROECONOMIC MODELS AND FISCAL POLICY

  Classical v keynesian approaches

Fiscal policies are the actions of Congress on spending and taxing. (Note that this is different from monetary policy, which is the action take by the Federal Reserve to change the money supply.)

  Two mutually exclusive projects are under considerationyear

two mutually exclusive projects are under consideration.year project a project b0

  How the economic performance measures of gdp

Prepare a 2-3 page paper indicating how the economic performance measures of GDP, inflation, and unemployment statistics can be utilized by construction managers to improve decision-making.Offer some specific examples.

  Have any gross income as a result of this transaction

Markum Corporation owes a creditor $60,000. Markum transfers property to the creditor to satisfy the debt. Markum purchased the property four years ago for $45,000 and it is currently worth $60,000. Does Markum have any gross income as a result of th..

  An electric company must decide whether to install a

an electric company must decide whether to install a scrubber to reduce sulfur dioxide emissions from its electric

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd