Decrease in most peoples' income Price of substitute increases Price of substitute decreases

Q: Excise duty is also known as

A: Hi! thanks for the question but as per the guidelines we can not answer the opinion-based questions.…

Q: If domestic income is $13,000 million, compensation of employees is $2000 million and mixed income…

A: The Given information is as follows:- Domestic income = $13,000 Compensation of employees = $2000…

Q: It is the part of the total population that has shown some level of interest in buying a particular…

A: Whenever a firm tries to sell a product or a service, it categorizes the buyers.

Q: Goals and objectives of Poverty Alleviation Program in the Philippines.

A: As a product is manufactured and put into production, cost  is calculated and business follow ups.…

Q: A rent ceiling creates a shortage. As a result, there is

A: A ‘price ceiling’ is a price control imposed by the government on a market. ‘Price ceiling’ is the…

Q: Price Per Unit Demand (MPB) MSB Supply Quantity

A: Externality is a situation where the third party/economic agent is associated with the cost/benefit…

Q: The government will not set artificial rates on products.

A: In case of a market failure, the government intervenes in the market and sets an artificial price in…

Q: If the food retail price rises faster than the farm value, then farm-to-retail price spread will 1.…

A: Food retail price is the price of the goods and commodities at the retail outlets paid directly by…

Q: Which program has the highest expenditure per enrolle in the US?

A: Expenditure per enrollee means the share of government spending including both Federal and states.

Q: This is not a writing assignment, this is a multiple-choice question   Which of the below…

A: Economically, those in want of immigration argue that immigrants increase the financial system…

Q: What is the Gina Coefficient

A: Gina coefficient is a statistical measure which is measured by lorenz curve and can be calculated as…

Q: what is the defenition of economic well-being

A: Economic wellbeing is one of the measures which indicate the standard of living. If a person,…

Q: What are demographics? Why are they important tointernational marketers?

A: Population in the economy can be a boon or a bane for the economic system and its operations. The…

Q: what bring about an increase in the number of a new product in the Nigeria market

A: It is general known that a significant amount of organisational resources are invested in product…

Q: dollars Government expenditure on goods and services 250 Compensation of 1,675 employees

A: Definition: Gross Domestic Product (GDP) is the monetary value or total market value of all goods…

Q: FUTA is a federal tax that is paid by employers for each employee to provide _____ compensation to…

A: FUTA refers to the Federal Unemployment Tax Act. It is used to fund the benefits that are provided…

Q: Calculate the price per unit if quantity sold is 34 units and the revenue generated out of it is…

A: The given information is as follows:- Total revenue = $1500 Quantity sold = 34 units We need to…

Q: If the government imposes a minimum wage which is lower than the equilibrium wage rate in the market…

A: A labor market refers to the platform where households supply labor to earn wages while producers…

Q: Income redistribution a. may help some individuals, but does not increase social welfare. b. may…

A: Purchasing Power: The term purchasing power refers to the actual money strength that a person has.…

Q: The primary objective of rent control by the government is to_________. a. Make the landlords charge…

A: Rent control is an upper limit on rent imposed by the government.

Q: Q29 a government mandated price which is set below the equilibrium price in order to prevent thr…

A: The government imposes minimums and maximums in the market on the price of certain goods and…

Q: Randland has a large number of people who are alike in every way. Seanchan has the same number of…

A: The reason behind the disparity between the two places is as follows:-

Q: Farm input sector opportunitues

A: Farm input sector mainly consists of fertilizers, crop protection products, seeds and it also…

Q: Raising Florida's Minimum Wage Did the measure pass or fail

A: Minimum wage is the lowest wage below which an employee cannot hire workers.

Q: A government subsidy to the producers of a product:         reduces product supply.        increases…

A: Government subsidy: It refers to the government's monetary aid, which helps increase the social and…

Q: The quantity supplied of a good isA) equal to the difference between the quantity available and the…

A: There are various factors that play a vital role in determining the supply strategy by a producer,…

Q: The effects of the national health care program on labor markets will      increase the quantity…

A: The correct answer is given in the second step.

Q: An increase in the minimum wage is likely to the quantity of labor demanded and at the same time is…

A: Answer- decrease : increase

Q: If the ratio of the dollar price of a U.S. toy to the dollar price of the same toy sold in China is…

A: The real rate (RER) between 2 currencies is that the nominal rate (e) increased by the quantitative…

Q: Due to the outbreak of Covid 19, manufacturing sector employees were not able to work from home due…

A: Due to the outbreak of Covid-19, manufacturing sector employees were not able to work from home due…

Q: An increase in the demand for gasoline today caused by concerns that gasoline prices will be higher…

A: The increase in demand caused by concerns of future prices means that there are expectations of…

Q: The equilibrium price is also called as the        market-clearing price       agreed price…

A: The price which is determined by the intersection of demand and supply curve is called the…

Q: Analyze the role of the government when determining prices in markets

A: Governance is one of the main factors in deciding consumer prices. The government takes its stand…

Q: Labor Market:Government raises the minimum wage from $8/hour to $12/hour; the current wage is…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: The Supplemental Nutrition Assistance (formerly called food stamps): a. is likely to increase both…

A: Supplemental Nutrition Assistance is a program that provides monthly coupons to the low-income…

Q: Subsidies ____ the price paid by the buyer and ____ the price received by the seller.

A: Subsidies Subsidies refers to the incentive that is provided by the government to the people or…

Q: The TANF program is designed to: Multiple Choice provide income to the blind and disabled. increase…

A: TANF programme is defiend as TEMPORARY ASSISTANCE FOR NEEDY FAMILIES.

Q: If immigrants into a country are primarily low-skilled workers, it will most likely reduce all…

A: * ANSWER :-    From the above information we observe that the answer is provided below as

Q: Find the income when the quantity is given as $441 and the price is given as $209

A: The income of an individual or firm selling goods and services is the revenue earned from the sale…

Q: _________ is the price fixed by government for specific goods and services. a. Market price b. Flat…

A: In a free market, the prices are determined by the interaction of the market forces of demand and…

Q: Question 3b Income per capita is not a good measure of welfare in an economy. Discuss.

A: Per capita income refers to amount of money earned per person in the economy. It is used to…

Q: Is there a sufficient quantity of adequately skilled people in the local labor force to meet your…

A: The skilled people and labour in an economy are considered as an asset to the functioning and…

Q: A minimum limit beyond which the price of commodity is not allowed.

A: In a competitive market, the equilibrium price and quantity of a good are determined at a point…

Q: Price controls often generate Select one:

A: The price controls would result in the price controls which would involve the price floor and the…