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dexar [7]
1 year ago
14

The value of the surplus that is lost to buyers and sellers but converted into tax revenue may?

Business
1 answer:
frozen [14]1 year ago
8 0

The amount of the surplus that is worthless to buyers and sellers but becomes tax income may be transferred to someone else through public policies, but it is not lost.

More about public policies:

The majority of the time, a government's established policies, laws, and behaviours make up its public policy. Concern over the new structure of government calls attention to how frequently state agencies now carry out these functions rather than the state itself.

By endorsing politicians and political parties, several individuals and organisations attempt to have an impact on public policy through the political process.

Learn more about public policy here:

brainly.com/question/24262123

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Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of
balandron [24]

Answer:

a) The demand curve for unskilled labor is vertical.

Explanation:

Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of $10 an hour, no one currently working will lose his or her job." This person must believe that the Group of answer choices demand curve for unskilled labor is vertical.

Response to prices depend on the elasticity of demand because elasticity of demand relates to how quantity demanded will fall as a result of increase in price or in this case wage rate.

A vertical demand curve is a pictorial demonstration of a perfectly inelastic demand which means that no matter how much to you increase the price no change will occur in quantity demanded as such a good is most essential to the consumers.

Therefore if the demand for labor is perfectly inelastic, it means nobody will be laid off with increase in wage rate as firms will not change their quantity demanded for labor.

4 0
3 years ago
Read 2 more answers
How do economists calculate GDP for one year using the expenditure approach?
never [62]

The expenditure method is the most widely used approach for estimating GDP, which is a measure of the economy's output produced within a country's borders irrespective of who owns the means to production. The GDP under this method is calculated by summing up all of the expenditures made on final goods and services.

3 0
3 years ago
A two digit number is such that, the sum of its digit is 13. When the digits are interchanged, the original number is increased
LekaFEV [45]

Answer is 67.

As, 6+ 7

= 13

Also, when 67 is interchanged(76), the original no. is increased by 9.

7 0
2 years ago
Which statement best describes the difference between a market and traditional economy
icang [17]

Answer:  in a traditional economy, decisions are based on habit and custom

Explanation:

4 0
10 months ago
Barbara owns a manufacturing plant with four facilities(North, South, East and West) in the state of Indiana. The workers at the
Leno4ka [110]

Answer:

Union power

Explanation:

Union members usually earn a higher salary than non-unionized employees carrying out the same tasks in similar companies due to union power. Basically unions exercise their power of representing workers through their ability to call on a strike. Also, unions negotiate wage increases on a yearly basis, while non-unionized workers must negotiate on their own.

7 0
3 years ago
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