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3 years ago

A short-run phillips curve shows an inverse relationship between

Business

1 answer:

photoshop1234 [79]3 years ago

6 0

Answer: unemployment rate and the inflation rate.

Explanation:

The Phillips curve shows the relationship that exists between inflation and unemployment rates. The short-run Phillips curve looks like an L-shape and it reflects the inverse relationship between the two variables i.e unemployment and inflation.

As unemployment rates rises, inflation reduces and as unemployment rates reduces, inflation increases. A reduction in the aggregate supply will lead to a rightward shift the short run Phillips Curve.

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You are part of an Information Systems project team. Your job is to ensure that the technology and vendor suggested for use in t

LenaWriter [7]

.answer:

the correct answer is (c)

explanation:

information systems manager (IS Manager) represent data innovation in an association, regulating a group of IT experts. The job incorporates data frameworks arranging, establishment, and support, including equipment and programming overhauls. IS directors may concentrate on a particular issue, for example, arrange security or Internet administrations, or they may organise all innovation tasks

8 0

3 years ago

What will happen to the firms equilibrium wage rate when the supply of labour decrease from 25 to 15? Explain with the help of d

Tpy6a [65]

Answer:

Wage rate = $960

Explanation:

Supply of labor is the number of hours workers are willing to work at a given real wage rate. When wage rate increases, supply of labor also increases because more people are encouraged as now they can obtain a higher income. When wage rate decreases, labor supply also decreases.

<em><u>View diagram</u></em>

In this case, however, there has been a decrease in supply, causing the supply curve to shift from S to S1. This can be due to many reasons such as migration, increase in minimum working age or increase in interest in education causing more people to study. When the supply of labor falls, there are less people available for work. Thus, demand exceeds supply, causing a shortage. Hence, the pressure causes price, i.e. wage rate to increase. To determine by how much the increase is, cross-multiplication can be used:

At 25 laborers, wage rate is $600 (25 = 600)

At 15 workers, wage rate is X (15 = X)

We now substitute for X, which is the amount by which wage rate will increase.

25 / 600 = 15 / X

Thus, 25X = 9000 (600 x 15)

9000 / 25 = X

X = 360.

Hence, wage rate at 15 laborers is 600 + 360 = $960

3 0

3 years ago

Quizlet: Under autarky, consumer surplus is represented by the area

solong [7]

Answer:

The correct answer is option c.

Explanation:

Autarky can be defined as a situation where a nation is self-sufficient and does not trade internationally. Consumer surplus is the difference between the maximum price a consumer is willing to pay and the price he actually has to pay.

In the case of autarky, the consumer surplus id the area below the demand curve and above the equilibrium price. The producer surplus is the area above the supply curve and below the equilibrium price.

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3 years ago

What is one issue on which economists commonly disagree?give an example of each argument?

Vesna [10]

Answer:

quality and price of product

5 0

3 years ago

Daveed is the warehouse supply manager for a privately owned auto parts distributor. It is his job to take inventory of the prod

vodomira [7]

This form of production that operates on supply and demand is the <u>market economy.</u>

<h3>Facts about the market economy </h3>

Is controlled by forces of supply and demand.
Citizens are allowed to own the means of production.

The warehouse Daveed works in is privately owned and they seek supply based on the demand for their goods.

This is in conclusion, a market economy.

Find out more on the market economy at brainly.com/question/1659498.

7 0

2 years ago