Question 11

When we say demand is "inelastic," that means

◯ when the price of one good rises, demand for a related good falls

◯ quantity demanded is not particularly responsive to a change in price

◯ no matter what happens to our income, well kecp buying about the same amount

◯ the demand curve is more flat than steep

 

Question 12

In the labor market in the United States right now, there's evidence that

◯ None of the listed options is correct.

◯ there are more open jobs than people who are looking for work

◯ the minimum wage is most binding for workers with the most experience and training

◯ the quantity supplied of labor is greater than the quantity demanded of labor

◯ a recent increase in the federal minimum wage law is causing the market to be out of equilibrium

Hello, I need your help with these questions! Thank uu!!!

Need help with these economics questions.

3. These questions come from the article Making Depressions Great Again which appeared in the WSJ (February 2016).

(a) Why does the author suggest a trade war is approaching? ($2,000)

(b) What implications would a trade war have for the global economy? ($2,000)

4. These questions come from an article Making the Case for Trade which appeared in the WSJ (March 2016).

(a) Why do the four leading presidential candidates oppose free trade? ($2,000)

(b) The author outlines three benefits of free trade. Summarize each benefit in 4-6 lines. ($2,000)

5. These questions come from the article What Donald Trump Doesn't Understand About the Deal which appeared in the NY Times (March 2016).

(a) How does Donald Trump's view of trade contrast with the principles of trade as taught in this course? ($2,000)

(b) The author describes Donald Trump as a rent seeker. What is meant by this term? How does rent-seeking define Trump's view of trade? ($2,000)

Please help me with these three questions with detailed explanations. Thanks

Use the table below to answer the following questions.