1 state in words and show with a graph the effect of the, Ask an Expert

Economics

1. State in words and show with a graph the effect of the following events on equilibrium price and quantity of the market given

a) The price of cheese increases. Market: Pizza

b) A study is released showing that eating apples causes caner. Market: Apples

c) Income in the US increases by 20%. Market: Widgets, which are an inferior good.

2. Assume you live in an economy that has a population of 2,000,000 people over the age of 16. The labor force in your economy is 1,500,000 people and 1,300,000 people are currently working.

a. Calculate the unemployment rate

b. Calculate the employment rate

c. Calculate the labor force participation rate

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91676068

Have any Question?Write your Review or question?

Related Questions in Business Economics

The local grocery store sells potatoes in 5-pound bags

The local grocery store sells potatoes in 5-pound bags. Because potatoes come in unpredictable sizes, it is almost impossible to get a bag that weighs exactly 5 lbs. Therefore, the store advertises that the bags average ...

Riditna paper withdraws river water for use in its paper

Riditna Paper withdraws river water for use in its paper mill, and returns it, along with waste effluent, back into the river. (Effluent is a co-product of Riditna's paper, such that production of each ream of paper gene ...

An insurance company will pay dave 220000 the market value

An insurance company will pay Dave $220,000 (the market value of the house) should his house be destroyed by fire during the year. In return, Dave pays the insurance company $1280 that year (called the "premium") for tha ...

If all countries eliminated all barriers to immigration

If all countries eliminated all barriers to immigration, would global economic growth increase? Why or why not?

Is it possible to have no or very small collinearity and

Is it possible to have no (or very small) collinearity and correlation between variables, yet have the same R squared and Adjusted R squared values?

Brexita what are the economic implications provide a

"Brexit" A. What are the economic implications? Provide a credible citation. B. What possible impact could this event have on European trade? Provide a credible citation.

Are there manufacturers and retailers who have taken steps

Are there manufacturers and retailers who have taken steps to reduce their pollution impact, both air quality and industrial pollution, while maintaining a viable place in the market?

How would you explain the concept of a quality adjusted

How would you explain the concept of a quality adjusted life year? When is it appropriate to use "QALYs" instead of simply improved life expectancy as the outcome measure in an economic evaluation?

Economics - unemploymentwhat kind of monetary and fiscal

Economics - Unemployment What kind of monetary and fiscal policies could be introduced to reduce unemployment? Why would we expect these policies to have inflationary consequences? Illustrate your answer diagrammatically

In a recent year 8415394 male students and 4879215 female

In a recent year, 8,415,394 male students and 4,879,215 female students were enrolled as undergraduates. Receiving aid were 62.9% of the male students and 68.3% of female students. Of those receiving aid, 41.9% of the ma ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert