Tag: Economics – Others

Adam Strithis concept of
Select one:
A. a compa ative allyankige
B. a patent
C. int nequitied advantape
D. a natunal actvantage

Would more people working from home increase or decrease labor mobility?
A.decrease
B.increase
C.it is not clear
D.it does not matter

Sean​ Astin, who played Sam in the Lord of the Rings​ movies, wrote the following about an earlier film he had appeared​ in:

Prove that a change in the expected price level will shift the Ns curve in the labor market modeled in terms of the nominal wage.
Model setup: let W denote the nominal wage and P
e
the expected price level. The relevant real wage is W / P
e
. Assume labor supply is a function of the real wage,
N
s
= n(W / P
e
)
, with
n’
(·) > 0.
Effect of a change in expected prices at fixed nominal wage: differentiate
N
s
with respect to P
e
holding W constant:
dN
s
/dP
e
= n'(W / P
e
) · d(W / P
e
)/dP
e
= n'(W / P
e
) · (−W / (P
e
)
2
)
.
Since
n’
(·) > 0 and
W/(P
e
)
2
> 0, the derivative is negative. Thus an increase in the expected price level reduces the labor supplied at any given nominal wage: the
N
s
curve shifts downward (or left) when plotted as N versus W.
Equivalent statement in nominal-wage form: invert the supply relation to get the nominal wage needed to deliver a given N,
W = P
e
· n
−1
(N)
.
Differentiating with respect to P
e
at fixed N gives
∂W/∂P
e
= n
−1
(N) > 0
. Therefore, for any target employment level N, a higher expected price level requires a higher nominal wage W; in the W–N plane the supply curve shifts to the right (higher W for each N), which is the same geometric shift described above.
Intuition and conclusion: because workers care about real wages, an increase in expected prices lowers the real wage at a given nominal wage. Workers therefore either supply less labor at that nominal wage or require a higher nominal wage to supply the same labor. Hence a change in the expected price level shifts the Ns curve when the labor market is modeled in terms of the nominal wage.

The relatively stable pattern of intertwined social relationships that develops over time among individuals and groups is called;

If producing a soccer ball costs Jake $5, and he sells it for $40, his producer surplus is $45.
Group of answer choices
True
False

One of the best ways to reduce any type of pollution is to not pollute in the first place.Question 11 options:A) TrueB) False

Consider the following statement: “A fiscal expansion will always reduce investment in aneconomy”. Now consider the following

The formula for Expected Value is: ([Blank] of winning) x (Amount won per bet) – ([Blank] of losing) x (Amount lost per bet)

13Definition: The term which derives from the Latin meaning a covering is
Multiple Choice
cutaneous
integument
epidermis