Question

Fill in the blanks to complete the paragraph. The government reduces educational subsidies received by schools....

Fill in the blanks to complete the paragraph.
The government reduces educational subsidies received by schools. Also, the economy enters a recession, which causes more workers to go back to schools. Because of this, supply of education shifts to the __________, and the demand for education shifts to the __________. The equilibrium price of education will ________.
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

From the given question it can be clearly seen that due to reduction in the subsidy then this will affect the supply of education

since there is less subsidy so school will not get so much benefit and this supply of education will decrease

the supply curve will shift left

now when we talk about demand side then due to more workers who want to go back to school there will be more demand for education

so demand curve will shift right and due to this both phenomena the equilibrium price will increase

supply shifts left

Demand shifts right

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Students Learn the Hard Way News Story In most states, tuition is going up in four-year...
Students Learn the Hard Way News Story In most states, tuition is going up in four-year public universities. Most are in the single digits, but some are huge - freshmen at Texas A&M will pay 26 percent more, University of Kansas students 21 percent, and University of South Carolina students 17 percent. The culprit is reduced state funding. The weaker economy has decreased tax revenues, and so states have cut spending to balance their budgets. Higher education is easier to...
1.High interest rates might………….purchasing a house or a car but at the same time high interest...
1.High interest rates might………….purchasing a house or a car but at the same time high interest rate might ……………….saving. A)  discourage; encourage B)  discourage; discourage C) encourage; encourage D)  encourage; discourage 2.An increase in interest rates might ………..saving because more can be earned in interest income. A) encourage B) discourage C) disallow D) invalidate 3.   Everything else held constant, an increase in interest rates on student loans ……………….. A)  increases the cost of a college education. B)  reduces the cost of a college education. C)...
Answer all the questions below in paragraph form. Atleast 2 paragraphs. Case Study In Francisco Automotive...
Answer all the questions below in paragraph form. Atleast 2 paragraphs. Case Study In Francisco Automotive Manufacturing Plant, a large number of engineering activities are carried out in a wide range of areas. These activities include design, production of parts, assembly, testing, and quality assurance. Many of the manufacturing processes in the plant are performed using automated technologies and equipment. People also perform some of the manufacturing tasks and the plant employs over 400 workers. The decision on whether people...
1. The amount of __________increases when the economy goes into a recession and decreases when the...
1. The amount of __________increases when the economy goes into a recession and decreases when the economy goes into an expansion. a. structural unemployment b. seasonal unemployment c. cyclical unemployment d. frictional unemployment 2. It is difficult for cyclically unemployed persons to find jobs because a. they typically do not meet the qualifications required for the available jobs. b. the economy is in a recession. c. they voluntarily quit their last jobs and employers may view them as unreliable. d....
Please only answer the first question! The OECD is a club of the most advanced economic...
Please only answer the first question! The OECD is a club of the most advanced economic nations in the world – based on living standards and per capita income more than absolute size. Newer members include Turkey, Mexico and Hungary. China and India are not yet members despite their vast populations. Currently the OECD has 32 members. The 2009 OECD Employment Outlook discusses prospects for unemployment and possible policy responses. The evolution of unemployment depends on (a) the size of...
1. In which phase of the business cycle is the U.S. economy currently in? ________________. How...
1. In which phase of the business cycle is the U.S. economy currently in? ________________. How many months has the U.S. economy been in this stage of the business cycle? ___________ months 2. How long has the current expansion/recovery lasted to date? _________________ How does this compare to the average length of U.S. recessions since 1854? ______________________________. 3. What do the last four recoveries/expansions (that is, the current recovery/expansion and the previous three recovery/expansions), suggest about a new trend in...
Q1 - The number of adults (people greater than or equal to 15 years of age)...
Q1 - The number of adults (people greater than or equal to 15 years of age) that are considered officially unemployed (by government-calculated statistics) is typically different from (and usually less than) the number of adults actually without a job. This situation may arise because: i) The labor force (as calculated by government statistics) is inclusive only of adults who are either employed or actively seeking employment. ii) Full-time students, homemakers, and retirees are not considered part of the labor...
1.Which of the following changes would most likely occur in the Gotham housing market if the...
1.Which of the following changes would most likely occur in the Gotham housing market if the city were to add a network of bike paths? a.The supply curve would fall. b.The supply curve would rise. c.The demand curve would fall. d.The demand curve would rise. 2.Which of the following changes would most likely occur in the Gotham housing market if the city were to require developers to pay a tax on each new building? a.The supply curve would fall. b.The...
1. Which is the most accurate definition of the study of economics? [1] Distributing surplus goods...
1. Which is the most accurate definition of the study of economics? [1] Distributing surplus goods to those in need. [2] Dealing with affluence in a morally bankrupt world. [3] Using scarce resources to satisfy unlimited human wants. [4] Reducing human wants to eliminate the problem of scarcity. 2. Computer software represents [1] labour. [2] land. [3] capital. [4] entrepreneurship. 3. Suppose you have graduated with a degree in accounting and are offered a job with an accounting firm. But...
Ben and Chris combined their love of hockey with a business venture. They purchased a small...
Ben and Chris combined their love of hockey with a business venture. They purchased a small portable cart and began selling hockey memorabilia outside of the hometown hockey arena. Their first year went well, but this past year has been a real struggle. Due to poor economic conditions including a loss of jobs, ticket sales at the arena are down, which has significantly hurt their sales as well. As a recent business school graduate, you explain to Ben and Chris:...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT