In the middle of the fourteenth century, an epidemic known as the Black Death killed about a
Question:
In the middle of the fourteenth century, an epidemic known as the Black Death killed about a third of Europe’s population, about 34 million people. While this was an enormous tragedy, the macroeconomic consequences might surprise you: over the next century, wages are estimated to have been higher than before the Black Death.
(a) Use the production model to explain why wages might have been higher.
(b) Can you attach a number to your explanation? In the model, by how much would wages rise if a third of the population died from disease?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
a The production model suggests that an increase in the ...View the full answer
Answered By
DHRUV RAI
As a tutor, I have a strong hands-on experience in providing individualized instruction and support to students of all ages and ability levels. I have worked with students in both one-on-one and group settings, and I am skilled in creating engaging and effective lesson plans that meet the unique needs of each student.
I am proficient in using a variety of teaching techniques and approaches, including problem-based learning, inquiry-based learning, and project-based learning. I also have experience in using technology, such as online learning platforms and educational software, to enhance the learning experience for my students.
In addition to my teaching experience, I have also completed advanced coursework in the subjects that I tutor, including mathematics, science, and language arts. This has allowed me to stay up-to-date on the latest educational trends and best practices, and to provide my students with the most current and effective teaching methods.
Overall, my hands-on experience and proficiency as a tutor have equipped me with the knowledge, skills, and expertise to help students achieve their academic goals and succeed in their studies.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Taxes during the fourteenth century were very progressive. The 1377 poll tax on the Duke of Lancaster was 520 times that on a peasant. A poll tax is a lump-sum (fixed amount) tax per person, which is...
-
An athletic team wants to build a new sports arena in the middle of the downtown area. The team has bought enough land for the stadium, but needs more land to build an adjacent parking lot. The team...
-
The Senate is in the middle of a floor debate, and a filibuster is threatened. Senator Hanks, who is still vacillating, has a probability of .1 of changing his mind during the next 5 minutes. If this...
-
In the circuit shown in Fig. 19-69, the 33- resistor dissipates 0.50W. What is the battery voltage? 68 52 33 75
-
Organic Juices, Inc. acquires Healthy Snax Corporation for $50 million in cash, in a statutory merger. Healthy Snax' balance sheet at the date of acquisition is as follows (in millions): A consulting...
-
Which one of the following systems is open-loop? (a) The respiratory system of man (b) A system for controlling the movement of the slide of a copying milling machine (c) A thermostatic control (d)...
-
Consider PowerBar, the strategy for which is summarized in the PowerBar case. What implications for the culture, structure, systems, and people would you suggest given the nature of the product and...
-
Lott Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets...
-
How to create a relational model from DDL statements and how you save a relational model design.?
-
XYZ is a calendar-year corporation that began business on January 1, 2020. For the year, it reported the following information in its current-year audited income statement. Notes with important tax...
-
In addition to the benefits of economic growth, there are also potentially costs. What are some of these costs? Write a paragraph arguing that the benefits exceed the costs. Write a paragraph arguing...
-
Consider a Solow economy that begins in steady state. Then a strong earthquake destroys half the capital stock. Use a Solow diagram to explain how the economy behaves over time. Draw a graph showing...
-
Contract the expressions given in Problems 25-28. That is, use the properties of logarithms to write each expression as a single logarithm with a coefficient of 1. a. \(\log 2+\log 3+\log 4\) b....
-
In Ron Howard's Ted Talk, How I discovered the black art of cult branding, he lists Six major cult brand tactics that matter most when building brands and targeting customers. How I discovered the...
-
What are the key principles underlying the O(1) scheduler in the Linux kernel, and how does it achieve constant-time scheduling decisions regardless of the number of processes in the system?
-
Suppose one Euro can purchase 1.25 U.S. dollars today in the foreign exchange market, and currency forecasters predict that the U.S. dollar will appreciate by 25% against the Euro over the next 60...
-
At what point should we stop a Fishbone Diagram during its analysis? What problems can be foreseen in an NGT way of attaining a decision? Can Delphi technique be used to help with NGT? Can Project...
-
You learned that both the state and federal governments have policies in place to encourage marriage. Despite this, the states have put various requirements and restrictions on getting married. Some...
-
Ethanol can be produced from either sugar or corn. A gallon of ethanol cost 90 to produce from Brazilian sugarcane and $1 to produce from U.S.corn. The U.S. Department of Agriculture expects 20...
-
Complete the equations for the following equilibria and calculate Keq where the Keq expression includes [HO]. Be sure to enter Keq in proper scientific notation. (a) ammonia (acting as a base) reacts...
-
The budget deficit rose sharply during the Great Recession, reaching 10 percent of GDP. The debt-GDP ratio rose to more than 60 percent. Neither number is dire in and of itself, but together they are...
-
Very large debts are potentially problematic, leading to dangers of default and high inflation. However, there is no magic level of debt at which this occurs. An economys size and growth prospects...
-
Table 18.1 reports the composition of the federal budget as a percentage of GDP in 2011. Create a similar table using the latest available data from the Economic Report of the President. Has the...
-
Max Warrie, a famous former Australian cricketer had agreed to play at the Sydney Cricket Ground in an exhibition match against a rest of the world team in the coming Australian summer. He was to be...
-
Does a creditor have an obligation to advise a company to obtain legal advice before signing a contract? In this case, a director of a company is saying they did not know what they were signing when...
-
Randal embezzled $6000 of his employer's money and then disappeared. The employer's accountant called at Randal's residence and found out that his wife had a $3500 term deposit. When the accountant...
Study smarter with the SolutionInn App