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Discussion on labour performance also product price

1. "A substantial number of relatively unskilled persons reported which they cannot find work. At the same time, there are many unfilled jobs for relatively skilled people. Apparently, the problem is which there more unskilled people than unskilled jobs are." Illustrate what is wrong with the reasoning?

2. Briefly analyze the following:

(a) The price of cheese falls relative to the price of milk. Illustrate what is implied about the rate of interest? Elucidate why?

(b) Usually there are cheaper prices for matinee performances than evening performances. Elucidate why?

(c) "Allowing the price of goods to rise in period whenever none of the good is being produced is immoral, because the higher prices do not induce a larger output. They merely give unwarranted profits to those who are lucky enough to own the goods. Either prices should be prevented from rising or the government should take over ownership in order to prevent unjust enrichment." Compute this statement using economic analysis. (d) Give the definition of interest rates.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M916437

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