Induced demand

Intro- The unemployment effect of the minimum wage is one of the most interesting matters in economic, because it would be nice to think that a higher minimum wage had very positive macroeconomic effects on unemployment workers. In this essay I will be talking about the impact of minimum wage on employment and is it possible for a minimum wage to reduce unemployment rates. Also, this essay reviews the results of a more technical paper on the unemployment effects of a minimum wage. By meaning, a…

we harvested each month. This brought it to our attention, that we produced the same amount of grams each quarter on average, seeing we had the same amount of harvest that took place each quarter, this gave us the insight we needed to see that our demand was greater than our supply. So with this knowledge we were able to determine what non-financial factors were causing our revenue constraints, and what changes we need to make to…

In that case, service neutrality empowers operators to offer a variety of different services and applications, tailored to fluctuations in market demand. Convergence of licensing options is imperative to a young and fragile infrastructure as it reduces the complexity of authorization to new market participants. Convergence of licensing options in Catonia will have the following benefits: • It will…

I think we should be proactive, but it is easier to be reactive. We have had the opportunity to be proactive with things like electric or hybrid vehicles or increasing fuel efficiency, but people still choose to buy big trucks or SUVs and ignore the present and future consequences. They prefer the feeling of safety in a larger vehicle or the way the engine sounds, things you do not normally get with an electric or hybrid vehicle. When the price of gas drops drastically, you may hear that SUV…

The best example of a market economy is right here in the United States. A market economy is defined as “a capitalistic economic system in which there is free competition and prices are determined by the interaction of supply and demand.” This basically means that there is limited government interaction and the people run the economy. This system has many benefits; however, it also comes with some drawbacks. One example of a benefit for this economy is that it is very efficient.…

In conclusion, we found out that males in our class has better hearing abilities, because according to the graph, the trendline of males is higher than female, which means that the boys can hear the tones in further distance for most of the frequencies. For female, when the frequency is 8000 hz, the average distance is 11.65m, and for males, the average distance is 14.5. When the frequency is 12000 hz, the distance for female is 3.22m, and for male, the average distance is 7.93m. As you can see,…

increasing sales of natural and organic products, why is the popularity of Whole Foods decreasing? This behaviour can potentially be explained with the microscopic concepts in economic including the availability of close substitutes, law of demand and a shift in the demand curve, market elasticity and a free-entry-free exit market. Previously, Whole Foods had a large number of consumers purchasing natural and organic foods in their stores. However, recently other retailers such as Walmart and…

Metaphors have been used to explain the world around us in figure of speech when describing a situation or idea. Some of these metaphors would give rise to idioms that further express our point of view in viewing the world around us. We will be covering five conventional metaphors that include that Ideas are plants, ideas are commodities, understanding is seeing, the eyes are containers for the emotions, and life is a gambling game. Metaphors are a reflection of our world and our culture that…

The definition of Relational Dialectics Theory describes how relational life is described as an ongoing tension between contradictory impulses (199). However, the theory can benefit from economic terms as presented in Social Exchange Theory. Moreover, the theory could develop and explain how cost and rewards affect a relationship based on ongoing tensions. The two theories have similarities staring with their assumptions of rational life. Consequently, Relational Dialectics can use an…

compensations from an economic perspective. An economic lens takes into account the rising economic inequalities, which is largely assumed to be non-existent or insubstantial in the first method, as well as taking into account the principals of supply and demand and so on. Using the work of John R. Boatright, Jeffery Moriarty, and Anthony Atkinson, this essay will explore both of these perspectives and argue that high CEO compensations is justified,…