What can be the potential effect on the employment

Assignment Help Microeconomics
Reference no: EM13825258

Question

If Ministry of labor sets up a minimum wage in the labor market, what can be the potential effect on the employment? Explain your answer with help of relevant diagram.

Summary

The question belongs to Economics, mainly to Micro-economics and it is discusses about a question where the ministry of labor setting up a minimum wage in the labor market and its potential effect on employment. This has been discussed in the solution with a diagram.

Reference no: EM13825258

Questions Cloud

Installing it enabled manufacture upgrade : Installing IT Enabled Manufacture Upgrade example of LockStep Manufacturing
Explore the different types of treatments of prostate cancer : One of the most common cancers in men is prostate cancer. Once detected, there are many different types of treatment available. Using a search engine, explore the different types of treatments available and pick one that you feel would be most e..
Purchase price and sales price comparison : This question belongs to Accounting and it is about accounting review of an Australian company Woolworths Ltd. This exacting question is purchase price and sales price comparison of an investment by Woolworths Ltd
How to create department heads and staff for operations : How to Create Department Heads and Staff for Operations
What can be the potential effect on the employment : The question belongs to Economics, mainly to Micro-economics and it is discusses about a question where the ministry of labor setting up a minimum wage in the labor market and its potential effect on employment.
The impact of e-commerce on the purchasing systemidentifying : the impact of e-commerce on the purchasing system identifying
Calculate equilibrium price with increase in income : The problem belongs to Economics, Micro-economics and it is explain the calculating equilibrium price with increase in income of consumers with income elasticity of demand given. A diagram supporting the answer has been given in the answer.
Medical malpractice or ordinary negligence : Explain the test a court will use to determine whether a plaintiff's claim is for medical  malpractice or ordinary negligence? Why does it matter?
Compute the roe and profit margin ratio : For Woolworths Ltd using the 2012 year compute the ROE, profit margin ratio, asset turnover ratio, current ratio, debt to equity ratio, interest coverage ratio, NTAB, EPS, DPS and the PER

Reviews

Write a Review

Microeconomics Questions & Answers

  Explain the meaning of monetary neutrality

Explain the meaning of monetary neutrality and illustrate graphically that there is monetary neutrality in the long run in the aggregate demand–aggregate supply model. Be sure to label:

  The mexican federal government

In 2010 the Financial Times reported that the Mexican Finance minister called for a third change to the country's taxes in as many years. (Financial Times, March 19, 2010) The result would be an increase in tax revenue for the Mexican federal ..

  The federal reserve bank are part of a commercials bank

Deposits with the federal reserve bank are part of a commercials bank's a)capital b) reserves c) loans d) lliaibilties

  Would you suggest a bigger swing either way

If we were to evaluate the "best-case scenario" from anefficiency standpoint of public-private partnerships, what would bea reasonable breakdown between private sector vs. public sectorspending for an increment of $1.

  Explain what are the potential secondary effects

A.Based on the National Accounts, what policies would you implement to eliminate a NX

  Long-run supply curve in a constant-cost industry

Long-run supply curve in a constant-cost industry is linear and shut down because it will no longer be earning a normal pro?t.

  Why dont firms continue to get infinitely larger

Externalities are third party consequence of some other action. They can be positive or negative externalities and they impose a benefit or cost to a third party.

  Expansionary or contractionary-monetary or fiscal policy

You are the chief economic adviser in a small open economy with a floating-exchange-rate system. Your boss, the president of the country, wishes to increase the level of output in the short run in order to win re-election.

  What price should the company sell their product

A firm has the following demand plans and short-term costs for a particular product. Q = 200 -5p TC = 400 + 4Q. What price should the company sell their product?

  What about if profits are greater than zero for a monopoly

What will happen if economic profits are greater than 0 in perfect competition? What about if profits are greater than zero for a monopoly? Be certain to explain why there is a difference by incorporating the characteristics of each market struct..

  Why would you feel safer on a united air lines plane

Professional football teams sometimes charter airplanes to take them to their away games. Would you feel safer on a United Air Lines plane that had been chartered by the Washington Redskins than on a regularly scheduled United Air Lines flight

  Multiple choice questions - microeconomics

A company used a combination of inputs that was to left of its isocost line, it would indicate that

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