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Los Mercados en Accion - Capt 6 - Economia

Los Mercados en Accion - Capt 6 - Economia

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Published by Carlos Soto Santoni
Chapter 6 - Economics 8/e - Michael Parkin
Chapter 6 - Economics 8/e - Michael Parkin

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Published by: Carlos Soto Santoni on Dec 02, 2009
Copyright:Attribution Non-commercial


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Markets in Action
After studying this chapter you will be able to
Explain how housing markets work and how priceceilings create housing shortages and inefficiency
Explain how labor markets work and how minimum wagelaws create unemployment and inefficiency
Explain the effects of a tax
Explain why farm prices and revenues fluctuate and howproduction subsidies and quotas influence farmproduction, costs, and prices
Explain how markets for illegal goods work
Turbulent Times
As more people compete for scarce land, house pricesand rents rise.As new technologies replace low-skilled labor, the demandfor low-skilled workers falls.Can governments control prices and wages?How do taxes affect prices and quantities, and who paysthe tax: the buyer or the seller?How are farm prices and incomes affected by fluctuationsin harvests?What happens in a market when trading a good is illegal?

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