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The chancellor said employers would be forced to pay staff a minimum of £7.20 an hour from next April 2016, and raise wages by 6% a year on average to around £9 an hour by the end of the year 2020.
1. How this changes in the minimum wage, could possibly affect the unemployment rate?
2. What will be the macroeconomic effects, of minimum wage change in the economy?
You should answer the question in report form in maximum 1500 Words with introduction, main body and conclusion.
Constructive critical analysis, introduction, conclusion Demonstration of a clear understanding of the issues. Use of academic models. Clear focused understanding of a topic. Critical analysis is an important test of the student's ability to evaluate business economics concepts. Introductions and conclusions should briefly address the issues to be discussed and discussed respectively.
Consider a project that will bring in upfront cash inflows for the first two years but require paying some money to close the project in the third year. A0 = $ 6,500 A1= $ 4,500 A2 = $ -13,000 This is a simple borrowing project. Determine the borrowi..
What are the arguments FOR trade restrictions? Why don't we restrict trade among states with the borders of the U. S.?
A nominal rate of 14% should be used as the MARR. What equivalent annual interest rate is the second contractor offering? Which contractor’s offer would you accept? Repeat the analysis with the NPV technique.
A foundry uses 3,600 tons of pig iron per year at a constant rate. The cost per ton delivered to the foundry is $145. It costs $92 to place an order and $18 per ton per year for storage. Find the minimum-cost purchase quantity.
The private marginal benefit associated with a product's consumption is PMB=360-4Q and the private marginal cost associated with its production is PMC=6Q. Furthermore, the marginal external damage associated with this good's productions is MD=20. Cal..
Briefly define the following terms. Tariff escalation, Optimal tariff rate, Ad valorem tariff equivalent, Voluntary export restraint (VER), Terms of trade effect (of subsidy), Harmonized System (HS) of commodity Classification, Common external tariff..
q1. how was de beers able to control the world price of diamonds over the past several decades even though it produced
Treating a patient with congestive heart failure with tPlex rather than is other increases average life expectancy to 12.3 years from 11.5 years. The added cost of therapy is $14,000. What is the cost per life year? Should you choose tPlex or is othe..
The election of a new Congress causes consumer confidence to soar as expectations of future economic growth are solid.
In neoclassical economics, based on the cost and the demand, a firm is assumed to choose its profit maximizing level of output. According to Hayek, what’s the problem with these assumptions?
ohn also Jeremy are utilitarian's. John believes to labor supply is highly elastic while Jeremy believes to labor supply is quite inelastic.
Explain why marginal revenue is less than or equal to the price. How does the difference between price and the marginal revenue depend on the price elasticity of demand?
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