חיalt_Midterm1.docx (100 KB) | A Alternative formatsA. In February 2018, the current administration proposed a $2.2 billion budget increase for SecreteService to hire 450 special agents, officers and professional staff in an effort to detain and deportillegal immigrants. At the same time, there was also a simultaneous immigration of many H1-B visaworkers (legally employed in the US) from the U.S. to Canada due to delays in obtaining green card.Assume that this is a temporary phenomenon for the American labor market. Use the model of ADand AS to explain what you think will be the impact of the above two scenarios on the real GDP andprice level? Explain and show graphically. [4 pts]B. Are the salaries of these H1-B workers included in the US real GDP? Explain. [1 pt]0MAY13 SLORIRYaF4F5F65%6&7トYU

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Four (TYPE I) firms sell Product X in competitive markets at a price of 10. They each operate with the production function: x = 100L – L². Another firm with monopoly power (TYPE II) sells faces demand curve P = 160 – Y and has production function Y = 5L. All five firms hire as wage-takers in the same market where labour supply is w = 2L. Illustrate and quantify the equilibrium wage and the number of workers hired by each firm. а. Solve for the equilibrium wage and employment by each firm. b. Provide a 3-panel diagram. 6.
The following table exhibits the name, gender, height, and minimum wage 10 people are willing to accept to work as human resource specialists at a large financial firm. Name Tim Poornima Valerie Manuel Shen Caroline Antonio Jake Dmitri Frances Gender M F F M M F M M M F Height (Inches) 66 66 68 70 70 66 71 70 63 68 Minimum Wage (Dollars per week) $296 $318 $340 $351 $373 $395 $417 $439 $450 $472
Many unions attempt to raise the hourly wages received by their members by restricting the supply of workers firms can hire from. Assuming the demand for workers who belong to these unions is inelastic, this would cause: wages of individual union members and the total (combined) income of union members to increase. wages of individual union members to increase and the total (combined) income of union members to decrease. wages of individual union members and the total (combined) income of union members to decrease. wages of individual union members to decrease and the total (combined) income of union members to increase.
The city of New Orleans has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $100,000 a year. The companies that employ normal designers each collect $500,000 in revenue a year, which is just enough to ensure that each earns exactly a normal profit. The 200th company, however, employs Janus, an unusually talented designer. Because of Janus's talent, this company collects $1,000,000 in revenue a year. a. How much will Janus earn? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
8. Ch. 20 Problems and Applications Q10 Suppose that Congress passes a law requiring employers to provide employees some benefit (such as healthcare) that raises the cost of an employee by $4 per hour. Assume that firms were not providing such benefits prior to the legislation. On the following graph, use the green line (triangle symbol) to show the effect this employer mandate has on the demand for labor. Wage (Dollars per hour) 20 18 16 14 2 0 Demand 2 I I 3 4 5 6 Quantity of Labor (Thousands) 7 True 8 O False Supply Suppose employees place a value on this benefit exactly equal to its cost. Suppose the wage is free to balance supply and demand. 9 10 On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor. New Demand New Supply Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to indicate the equilibrium wage and level…
How does the average Waste Management annual salary compare with that of Switzerland as a whole country? A) Waste Management between CHF 11,000 and CHF 13,000 less than average B) Waste Management between CHF 9,000 and CHF 11,000 less than average C) Waste Management between CHF 7,000 and CHF 9,000 less than average D) Waste Management between CHF 5,000 and CHF 7,000 less than average E) Waste Management between CHF 3,000 and CHF 5,000 less than average
For each of the proposals, use the previous graph to determine the new number of research assistants hired. Then compute the after-tax amount paid by employers (that is, the wage paid to workers plus any taxes collected from the employers) and the after-tax amount earned by research assistants (that is, the wage received by workers minus any taxes collected from the workers). Levied on Employers (Dollars per hour) 4 Tax Proposal 0 2 Levied on Workers (Dollars per hour) 0 4 2 Quantity Hired (Number of workers) After-Tax Wage Paid by Employers (Dollars per hour) O The proposal in which the entire tax is collected from workers O The proposal in which the tax is collected from each side evenly O The proposal in which the tax is collected from employers O None of the proposals is better than the others After-Tax Wage Received by Workers (Dollars per hour) Suppose the government doesn't want to discourage employers from hiring research assistants and, therefore, wants to minimize the share…
What do Levitt and Dubner mean by the term "pimpact"?(choose right answer) a:an analysis of the data shows a positive impact on the mean hourly wage of a street prostitute when a pimp is involved b:the authors are sarcastically referring to the fact that the mean age of street prostitutes is 15 and they are still dealing with acne c:the analysis shows that street prostitutes are abused and misused by pimps d:the analysis of data gathered from street prostitutes indicates that the payment to a prostitute for some sexual acts are greatly discounted when the "johns" are pimps
the employee has worked. A typical case Luba works on commission and has a weekly pay period. One week, she was paid $150.00 in commission and worked 25 hours. The minimum wage applicable to Luba is $14.25 an hour. The minimum wage ($14.25) multiplied by the number of hours worked in the pay period (25) is $356.25. Luba is owed the difference between her commission pay ($150) and the required minimum wage ($356.25). Calculate: Luba's employer owes her $
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
In the News: Sleep Rules Raise Trucking Costs The Federal Motor Carrier Safety Administration (FMCSA) now monitors the sleep hours and practices of long-haul truck drivers. As of July 1, 2013, the FMCSA insists that drivers: Drive no more than 11 hours a day. Work no more than 14 hours a day. Work no more than 70 hours a week. Take a 30-minute break in their first 8 hours of driving. Rest for 34 consecutive hours after completing a 70-hour week, including at least two nights between the hours of 1 and 5 a.m. According to FMCSA, the new sleep rules will reduce chronic fatigue and related crashes, saving 19 lives per year. But the trucking industry says the new rules are too costly and even dangerous. They force drivers to sleep when they're not tired and to drive when they are tired. They also force trucks onto the road at commute times. The $700 billion industry says shipping costs will rise 2 to 6 percent, upward of $2 billion. Source: Federal Motor Carier Safety Administration and…
The following graph shows the labor market for research assistants in the fictional country of Academia. The equilibrium wage is $10 per hour, and the equilibrium number of research assistants is 250. Suppose the government has decided to institute a $4-per-hour payroll tax on research assistants and is trying to determine whether the tax should be levied on the employer, the workers, or both (such that half the tax is collected from each side). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You will not be…

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