I need support with this Economics question so I can learn better.
1. Respond to the following in a minimum of 175 words
- Discuss at least two self-interested reasons that a top earner might favor policies to redistribute income.
- Discuss why the supply curve of labor for any specific occupation is likely to be upward-sloping, even if, for the economy as a whole, people work fewer hours when wage rates increase.
2. One standard that corporations use to evaluate their performance against their competitors is the set of rankings developed by Fortune magazine. These include the Fortune 500, the 100 Best Companies to Work For, and other lists. The public also uses these rankings to decide to what companies they should give their business.
Respond to the following in a minimum of 175 words:
- Discuss who gains and who loses when an economy opens for trade.
- Explain what determines exchange rates in the short and long run.
3. Respond to the following in a minimum of 175 words:
- Discuss the following statement from Principles of Economics: “Because the environment is fragile and natural resources are finite, ultimately economic growth must come to an end.”
- Explain why, in any period, a country’s net capital inflows equal its trade deficit? Include examples.