This topic contains a solution. Click here to go to the answer

Author Question: Real standards of living can increase A) if the country is producing the same amount they ... (Read 38 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
Real standards of living can increase
 
  A) if the country is producing the same amount they traditionally have and are enjoying more leisure time.
  B) only if there is positive economic growth.
  C) if there is positive growth in the manufacturing sector.
  D) only at the cost of increased urban congestion.

Question 2

Would it take longer for a labor market to move to a new equilibrium for house painters or architects? Why?
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SamMuagrove

  • Sr. Member
  • ****
  • Posts: 312
Answer to Question 1

A

Answer to Question 2

It would take longer for the market for architects to move to a new equilibrium, other things being equal. It takes more time in training to become an architect, and the knowledge one has is more specialized. Hence, it would take longer for the increase in quantity supplied to reach a new equilibrium after an increase in demand for architects than for house painters. For a decrease in demand, house painters can find similar jobs at similar pay more easily than can an architect.




Hungry!

  • Member
  • Posts: 1,071
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


amynguyen1221

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

For a complete list of videos, visit our video library