Jobs are the key to economic progress

Assignment Help Microeconomics
Reference no: EM13316434

“Jobs are the key to economic progress. Unless we create more jobs, our standard of living will fall.” Is this statement true or false? Explain.

Reference no: EM13316434

Questions Cloud

Do all investments create wealth : In a market economy, investors have a strong incentive to undertake profitable investments. What makes an investment profitable? Do profitable investments create wealth? Why or why not? Do all investments create wealth? Discuss.
Is the effective interest rate on the loan really 20 percent : A lender made the following statement to a borrower: “You are borrowing $1,000, which is to be repaid in twelve monthly installments of $100 each. Your total interest charge is $200
In which occupation will the annual wage be highest : Consider two occupations (A and B) that employ people with the same skills and abilities. When employed, workers in the two occupations work the same number of hours per day.
The employee must work the midnight to : Other things being constant, how will the following influence the hourly earnings of employees? Explain your answer. a. The employee must work the midnight to 8: 00 A.M. shift.
Jobs are the key to economic progress : Jobs are the key to economic progress. Unless we create more jobs, our standard of living will fall
The earnings of engineers doctors and lawyers are high : The earnings of engineers, doctors, and lawyers are high because lots of education is necessary to practice in these fields
Why are real wages in the united states higher than in other : Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
The demand for resources is a derived demand : The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
Barriers to entry are crucial to the existence of long-run : Barriers to entry are crucial to the existence of long-run profits, but they cannot guarantee the existence of profits

Reviews

Write a Review

Microeconomics Questions & Answers

  Find the sample mean and variance

Find the sample mean and variance of the Credit Score variable and find the sample covariance and sample correlation coefficient of Wait Times and Credit Scores.

  Economics-price elasticity of demand

If the price elasticity of demand for gasoline is 0.3, and the current price is $1.20 per gallon, what rise in the price of gasoline (in cents or dollars) will reduce its consumption by 10%? please explain.

  Why is productivity related to the standard of living

Why is productivity related to the standard of living In your answer be sure to explain what productivity an standard of living mean. Make a list of things that determine labor productivity.

  What will price and ouput be if there is no dominant firm

What will price and ouput be if there is no dominant firm Now assume that there is a dominant firm, whose marginal cost is constant at $6. Derive the residualdemand curve that it faces and calculate ots profit-maximizing output and price.

  Explain different strategies to earn profit in bussiness

So the people that live within walking distance are the only customers you might get, and there are no other stores nearby. If the firm sells the products separately, what price should it charge.

  What effect system will have on total quantity of garbage

Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are allowed to put out as many cans as they wish. The average household disposes of three cans of garbage per week under this plan.

  What would the impact be to the average citizen

The purpose of taxes is to generate revenue to allow government to provide services to citizens that they cannot easily provide on their own. If the government chose to reduce taxes by eliminating some tax services

  Steady state level of capital

Suppose that the rate of depreciation as well as the rate of saving are each .10. Also assume that there is no technological nor population growth.

  Fully insured person visit the physician

How many times would this fully insured person visit the physician?

  Explain how the new entrant acts first

Suppose that an industry cartel wishes to keep a new entrant out of an industry. Cartel members can conduct "predatory pricing", where the cartel lowers its price until the entrant leaves, after which it returns it price to the cartel's optimal (m..

  Considerations of product features-use of advertising

Create a list of reasons for your recommendation and include considerations of product features and use of advertising.

  What are the biggest threats to monopolistic profits

Does it appear that widgets would be a luxury good or necessity IF they sol at the perfectly competitive equilibrium (which they don't), and why?

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