8. Problems and Applications Q8

Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.
Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? Check all that apply.

The wage of manufacturing workers will rise.
The quantity of manufacturing workers demanded will fall.
The quantity of manufacturing workers supplied will rise.
There will be an increase in employment of manufacturing workers.

Answers

Answer 1

The quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise.

What does a union among workers represent in economy?

In the macroeconomic model, a union among workers will increase the wage rate, thereby the supply of manufacturing workers will also increase.

This phenomenon is associated with a decrease in the demand and quantity of manufacturing workers.

In conclusion, the quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise if manufacturing workers formed a union.

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Related Questions

Which of the following facts would NOT necessarily be taken into consideration when trying to determine which of two residences is the principal residence of the taxpayer?

Answers

The proximity of each residence to the taxpayer's close friends would not necessarily be taken into consideration when trying to determine which of two residences is the principal residence of the taxpayer.

What is meant by a Taxpayer?A taxpayer is anyone who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation. Governments primarily obtain their funding through taxes, which are levied on both citizens and companies. Individual taxpayers in the US are often required to submit and pay both federal and state tax returns each year. Localized taxes like sales taxes and property taxes are implemented and enforced by state and municipal revenue agencies. Since failing to pay required taxes can result in penalties or additional legal actions, both people and corporations need to be aware of their tax duties.

Businesses must also file annual returns but usually plan for and pay regular estimated tax payments throughout the year.

Therefore, the proximity of each residence to the taxpayer's close friends is not taken into consideration.

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Tableau is used to create dynamic and interactive visualizations. Dynamic visualizations can change over time. What does it mean for a visualization to be interactive?

Answers

Visualization to be interactive mean that the audience can control what data they see. The graphic display of information and data is known as data visualization. A good visualization highlights the important information while minimizing the noise in the data.

Data visualization tools make it simple to identify and analyze the trends, outliers, and the patterns in data by utilizing visual elements such as charts, graphs, and maps.  Another sort of visual art that captures our attention and keeps it fixed on the message is data visualization. Audience can immediately see trends and outliers when we look at a chart.

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What are the characteristics of a high-performance work system approach to hrm?

Answers

The characteristics of a high-performance work system approach to HRM  are-

Focuses on collective levels of human and social capitalEnhances the performance of all employees systematicallyImproves employee motivation and opportunities

Among the trends that are occurring in today's high-performance work systems are reliance on knowledge workers, empowerment of employees to make decisions, and the use of teamwork.

A high-performance work system is a bundle of HRM practices designed to promote employees' skills, motivation and involvement to enable a firm to gain a sustainable competitive advantage (Datta et al., 2005; Guthrie, 2001; Huselid, 1995), which includes employment security, extensive training, teams and decentralized

The phrase 'high-performance human resources' (HPHR) is generally taken to refer to human resource management (HRM) practices that have positive effects on the performance of an enterprise, typically a business enterprise.

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1. If a pregnant woman insists on continuing working in a job you, as manager, feel is too dangerous for her - can you change her position?

Answers

No, an employer can not single out pregnancy-related conditions to alter work positions or to determine an employee's ability to work.

It's miles illegal for an organization to discharge or push aside a pregnant worker for the duration of or as a result of absence because of pregnancy, delivery, or any submit-natal contamination, or to present observe of discharge or dismissal, or to differ to her drawback any of the situations of her provider.

The American College of Obstetricians and Gynecologists makes the subsequent recommendations: working at some point of being pregnant is typically safe. For those in excessive-risk occupations or with medically complex pregnancies, working hotels regularly can allow for persistent secure employment.

Employers can area pregnant personnel but only when it's miles the ideal course of action on occasions, in which the alleged misconduct or poor performance is unrelated to their pregnancy.

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The Comparative Market Analysis (CMA) is a tool for licensees; which statement below is correct about the CMA

Answers

Option D is correct.  A CMA is not an appraisal and should not be advertised as one.

What is a comparative market analysis?

This is the term that is used to refer to the market analysis that may

be done by the real estate agents.

The goal is to analyze and find out the existing prices in the market by the available listings and previous listings of properties. The reason why the real estate agencies carry out the CMA is to determine the right prices for home sellers to sell their homes.

On the other hand, the purpose is to enable the buyers of these homes to buy the properties at the best possible prices.

Complete question

The Comparative Market Analysis (CMA) is a tool for licensees; which statement below is correct about the CMA?

A) The CMA is the same as an appraisal

B) A CMA is an estimate of value and an appraisal is exact value

C) A CMA and an appraisal must both conform to USPAP standards

D) A CMA is not an appraisal - and should not be advertised as one

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Suppose a firm estimates its overall cost of capital for the coming year to be 10%. What might be reasonable costs of capital for average-risk, high-risk, and low-risk projects

Answers

The reasonable costs of capital for average-risk, high-risk, and low-risk projects could be found by generating risk-adjusted costs of capital for each category of risk based on the idea of divisional WACC.

What is Weighted Average Cost of Capital (WACC)?

The Weighted Average Cost of Capital (WACC) of a company is a measure of its total capital cost, which includes debt, common shares, and preferred shares.

Estimation of the reasonable costs of capital or average-risk, high-risk, and low-risk projects could be done in following way-

If a company anticipates that its cost of capital for the upcoming year will be 10%, it should use 10% as the basis for its average risk projects because it will be required to generate returns of at least 10% on each of those projects. A high-risk project often has a higher potential return, while a low-risk project typically has a lower potential return. As a result, the company might decide to set its capital costs for high-risk initiatives at 12 percent and for low-risk ones at 8 percent. The entire risk of the firm's projects will be equal to the 10 percent cost of capital because the average risk project has a 10 percent cost of capital.Similar to this, the company's high-risk initiatives may be placed at a 15 percent cost of capital while the low-risk projects are reduced to a 5 percent cost of capital, depending on how hazardous they are. The ultimate objective is for the firm's portfolio of projects to generate a return of at least 10%, covering the cost of capital used to fund the projects. Although the risk assignment is somewhat arbitrary, it is still preferable to making no adjustments at all.

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Like other corporations, market sales corporation can extend its operations through:_______
a. a winding up.
b. a termination.
c. a dissolution.
d. a merger.

Answers

Like other corporations, market sales corporation can extend its operations through D. a merger.

What is a corporation?

It should be noted that a corporation is an organization usually a group of people or a company that is authorized by the state to act as a single entity and recognized as such in law for certain purposes.

The advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital and the disadvantages of a corporation include it being time-consuming and subject to double taxation.

Here, like other corporations, market sales corporation can extend its operations through a merger. This will lead to more sales and revenue.

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When the demand for a good or service limits the quantity that can be sold to an output at which the firm experiences economies of scale, true or false?.

Answers

When the demand for a good or service limits the quantity that can be sold to an output at which the firm experiences economies of scale, the firm is a natural monopoly.

What is economies of scale?

This refers to those benefit an organization gains as a result of expansion of the production output.

Economies of scale are the cost advantages that companies obtain due to size output or scale of operation. The cost per unit of output generally decreases when the scale increases because fixed costs are spread out over more units of output.

Economies of scale apply to a variety of organizational and business situations and at various levels, such as a business or manufacturing unit, plant or an entire enterprise.

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In the short run, the individual competitive firm's supply curve is that segment of the:___________ a) marginal revenue curve lying below the demand curve. b) marginal cost curve lying above the average variable cost curve. c) marginal cost curve lying between the average total cost and average variable cost curves. d) average variable cost curve lying below the marginal cost curve.

Answers

In the short run, the individual competitive firm's supply curve is that segment of the: "marginal cost curve lying above the average variable cost curve."

What is the short run supply curve?

The short run supply curve of a business is the section of its marginal cost curve that is higher than its average variable cost curve.

According to the law of supply, when the market price rises, the company will supply more of its product.

A perfectly competitive business maximizes profit by generating the amount of production that equals the product's price and marginal cost.

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What office coordinates a variety of social, curricular, and special-interest clubs and organizations you can join?

Answers

Office of Student Activities coordinates a variety of social, curricular, and special-interest clubs and organizations you can join.

Divide the total number of grade points earned for the course by the total number of credit points required to prepare students for employment.

Associate of Applied Science (AAS) and Associate of Applied Arts (AAA) degrees are designed to prepare individuals to find employment or improve their employment status in career or technical positions. I'm doing it.

Students with 15 credit hours in special-interest clubs should therefore plan to study 30-45 hours each week outside the classroom. Web classes are calculated similarly. A 3-credit class requires an additional 2 hours of fieldwork for each credit. This equates to 5-9 hours of work per week in class.

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You work about 50% of the time at client sites and the other 50% of the time at your company's offices. Which mobile device accessory would help you most with your work

Answers

The mobile device accessory which would help most is a docking station for laptop.

What is a docking station?A laptop's base station, or docking station, converts the device into a desktop computer. The keyboard, mouse, monitor, and printer are permanently plugged into the docking station rather than being added to a laptop to make it desktop-ready. The laptop clamps into the docking station via USB or a single special-purpose connector to convert from portable to desktop use. Although the ordinary user's processing needs can be met by modern laptops, there will always be a tradeoff between port accessibility and mobility.

You may convert your laptop into a desktop computer with a docking station. Your laptop can connect to a docking station in order to use a monitor, printer, keyboard, mouse, storage device, backup drive, and even a local area network (LAN).

Therefore, The mobile device accessory which would help most is a docking station for laptop.

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When airlines charge higher prices for seats in the Economy section Exit rows that have more leg room, they are using which pricing strategy?

Answers

When airlines charge higher prices for seats in the Economy section Exit rows that have more leg room, they are using demand oriented pricing  strategy.

What is demand oriented pricing strategy?

This is a strategy, used by a seller inorder to set the price of a product at a limit within the buying capacity of the targeted consumers.

It is to be noted that demand-oriented attempts to set price at level that intended buyers are willing to pay.

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Many firms have achieved success by integrating activities throughout the extended value chain by using _______ to link their own value chain with the value chains of their customers and suppliers.

Answers

Many firms have achieved success by integrating activities throughout the extended value chain by using information technology to link their own value chain with the value chains of their customers and suppliers.

What is information technology?

Information Technology is the study systems which retains and sends information to recipients or users. Also, Information technology tends to focus on both the system hardware and the software.

An Information Technology refers to the collection of technology components that serves the needs of its users and the owner of the resulting system.

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What term describes the ratio of change in a price and its effect on the quantity of the product demanded?

Answers

The Price elasticity of demand is the term that describes the ratio of change in a price and its effect on the quantity of the product demanded.

What is a Price elasticity of demand?

This refers to the percentage change in the quantity demanded that is divided by the percentage change in price.

Normally, when the demand is elastic, this means that the quantity demanded changes by a relatively larger amount than the price change. So, if the consumers are sensitive to price changes, the demand is then elastic, if they are unresponsive, then demand is inelastic

Hence, Price elasticity of demand is the term that describes the ratio of change in a price and its effect on the quantity of the product demanded.

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a) A person has 5 trousers, 7 shirts, 6 ties, and 3 pairs of shoes. In how many possible distinct ways can the person dress

Answers

The person can dress in 630 different ways according to permutation and combination.

What is permutation and combination?Subsets of a set can be created in two separate ways: combination and permutation. The subset's components can be listed in any order when combined. The components of the subset are listed in a permutation in a certain order.There are only a finite number of permutations and combinations for each data set. They can therefore be used to calculate the probability of complex events. The number of possible permutations increases and the likelihood that a particular permutation will occur decreases as a set's elements increase.

First, The person has to decide on pants. So, he has 5 choices. And for each pant, the person has 7 shirts, 6 ties and 3 pair of shoes as choice. So,  5*7*6*3 = 630.

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The purchase of the economy's expanding goods and services by households, businesses, and the government is known as the

Answers

The purchase of the economy's expanding goods and services by households, businesses, and the government is known as the factor.

Economic efficiency means an economic state in which all resources are optimally allocated to best serve each individual or entity while minimizing waste and inefficiency. If the economy is economically efficient, changes made to help one company will harm another.

A compound economy means that producing one good reduces the cost of producing another related good. Economies of scope occur when it is less expensive for a firm to produce more types of goods or services together than it is to produce fewer types of goods or each good individually.

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Below is the simple process model. What development activity would you choose to add first to this process and why?

Answers

In the given Simple Model, I would like to add Requirements Gathering and Analysis after the Problem Statement. Because we know the problem description and we need to derive the requirements using the given data.

What exactly does "process modeling" mean?

Business processes or workflows are represented graphically in process modeling. Similar to a flow chart, each stage of the process is broken down so that a complete picture of the tasks involved in it within the context of the business environment is available.

A process model enables business processes to be visualized, helping firms better understand their internal business processes and manage and improve them. This is typically a flexible exercise for ongoing development.

What advantages does process modeling have?

Business processes are given a visual representation through the process modeling method, making it easier for users to analyze them and determine how they might be improved. Process modeling also has additional advantages, such as:

Increased effectivenessGain transparencyEnsure best practicesDevelop comprehensionBusiness orchestration.

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Requesting objects, rejecting interactions, sharing ideas, and seeking social interaction are examples of?

Answers

Requesting objects, rejecting interactions, sharing ideas, and seeking social interaction are examples of option B. communicative function. Communicative functions refer to the purpose of gestural, vocal, and verbal acts intended to convey information to others. Some communicative functions include commenting, requesting, protesting, directing attention, showing, and rejecting.

What is communication?

Communication is an apparent answer to the painful divisions between self and other, private and public, and inner thought and outer world.

Therefore, the correct answer is as given above

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The complete question goes thus:

Requesting objects, rejecting interactions, sharing ideas, and seeking social interaction are examples of;

A. communication.

B. communicative function.

C. expressive language.

D. language.

If people lose faith in the safety and security of financial institutions, what will happen to the u. S. Economy?

Answers

The standard of living will fall down.

The Financial institutions that engage in activities such as investing, currency exchange, and money deposits. Commercial banks, investment banks, brokerage businesses, insurance companies, and asset management funds are common examples.

Americans had faith in the banks and the economy, which appeared to be stable. It would be hard for enterprises to acquire financing if consumers lost trust in the safety of financial institutions . As a result, capital investment would stall, unemployment would rise, output of goods and services would fall, and the overall quality of life would deteriorate.

Therefore, the answer is fall in standard of living.

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Regulatory policy to affect what is happening in credit markets in the aggregate is referred to as?

Answers

Regulatory policy to affect what is happening in credit markets in the aggregate is referred to as monetary policy.

What is Monetary policy

Monetary policy are actions or rules that guides money in a particular country.

The policy affect how money is supplied and the country economic growth. Monetary policy are guides in determining and controlling a nation interest rate that are payable on loans that are collected.

Therefore, regulatory policy to affect what is happening in credit markets in the aggregate is referred to as monetary policy.

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The student organization at william howard taft high school that promotes safe driving practices is named?

Answers

Project YIELD is the student organization at William Howard Taft high school that promotes safe driving practices.

More than 5,700 young people died in car accidents nationwide in 2001. The latest year is reflected in the current statistics. In San Antonio, teenagers died in a car accident in the six weeks of the same year, some of whom were Taft students. Last year, the Texas Department of Transportation and the Texas Department of Transportation worked with Taft authorities on plans to prevent a similar tragedy. In-house recruitment activities created a team of 24 students, who later hired the group name "Project YIELD" (a young man who provides information to all living drivers). The "carefree driving kills lives" campaign is the fruit of their creative work.

This week, William Howard Tuft High School students launch the state's first teen-developed campaign aimed at making streets and highways safer. This week's campaign launch includes daily pre-spring break announcements, posters around the school, promotional materials, and campaign focal points. This is a 3-minute video written by a student who also stars in the production. The campaign is based on the five most common risk factors for young drivers. Driving at night, inexperienced driving, presence of young passengers, risky behavior (such as speeding, using a mobile phone while driving, not using a seatbelt), and alcohol and drug use.

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Setting up automatic account transfers is the easiest way to build your savings for your emergency fund or large purchases.

a. True
b. False

Answers

The statement, setting up automatic account transfers is the easiest way to build your savings for your emergency fund or large purchases, is true.

Automatic account transfers is the easiest process which lets your savings grow unattended. If you schedule the transfer around the time that your earnings arrive, the money for savings never really mixes with your spending funds.

Over time, you may also get used to living on that smaller amount too, making it easier to let your savings build. Thus, this saves your money for emergency fund or large purchases.

Hence, setting up automatic account transfers is the easiest way to build your savings for your emergency fund or large purchases.

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A charge for the use of money, usually figured as a percentage of the principal is called?

Answers

A charge for the use of money, usually figured as a percentage of the principal is called interest.

Simple interest is a very  easy  and quick method for calculating the interest charge on a loan.

Simple interest is calculated by multiplying the daily interest rate with the principal by the number of days that elapse between payments.

This type of interest is generally applied to automobile loans or short-term loans where the loans are for less than 12 months time period, whereas some mortgages also use this calculation method.

Simple interest benefits all the consumers who pay their loans on time or early each month because with this no additional amount gets added.

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Using simplified percentage complete amounts for a one-year project with weekly reporting and an average task or work packet size of one week, you can expect about a(n) ____ percent error rate.

Answers

Using simplified percentage complete amounts for a one-year project with weekly reporting and an average task or work packet size of one week, you can expect about a(n) 1 percent error rate.

What is a Simple Percent?

Simple percentages are percentages of amounts that can be found with a simple division or multiplication.

What is Percent Error ?

Percent errors indicate how big our errors are when we measure something in an analysis process. Smaller percent errors indicate that we are close to the accepted or original value.

For example, a 1% error indicates that we got very close to the accepted value, while 48% means that we were quite a long way off from the true value.

Percent error is the difference between estimated value and the actual value in comparison to the actual value and is expressed as a percentage. In other words, the percent error is the relative error multiplied by 100.

Percent Error Formula

The formula for percent error is:

PE = (|Estimated value-Actual value|/ Actual value) × 100

Your question is incomplete, but most probably your full question was:

Using simplified percentage complete amounts for a one-year project with weekly reporting and an average task or work packet size of one week, you can expect about a(n) ____ percent error rate.

a.1

b.5

c.11

d.15

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By integrating new transportation technologies into its fulfillment networks, package delivery companies such as DSL are _______.

Answers

By integrating new transportation technologies into its fulfillment networks, package delivery companies such as DSL are developing a more sustainable supply chain.

This is the correct answer because any logistics company would like to improve its service quality by reducing the transport time and at the same time being sensitive towards the environment by reducing the use of fossil fuels like Diesel and Petrol.

E-hailing rides, car sharing systems, electric vehicles (EVs), electric scooters, drones and even autonomous buses are already here. Drone delivery is one of the next advances aimed at reducing congestion and pollution on delivery trucks while maintaining the convenience of courier delivery.

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A layout deficiency in a house results in a loss in value of $5,000. The layout deficiency could be corrected at a cost of $6,500. This depreciation is categorized as _______.\

Answers

This depreciation is categorized as Functional obsolescence, incurable.

What is  Functional obsolescence incurable?

The main causes of the unavoidable functional obsolescence are outside forces over which the property owner has no control. By doing adequate study on the most recent trends and designs in real estate before committing to the investment, investors can avoid the occurrence of such obsolescence.

Functional Obsolescence Examples

Another example of functional obsolescence in the technology sector is the parade of ever-evolving cellphones and smartphone technology. New smartphones have more capabilities and features than older models, rendering them functionally useless.

There are two primary categories of functional obsolescence: curable and irreparable.

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Martin is the financial director of a small business. He recently read a memo from one department presenting a new idea for a product. During the discussion on the item afterward, Martin kept focusing on the cost of producing and marketing that product. The barrier facing Martin in this scenario is

Answers

Martin is the financial director of a small business. He recently read a memo from one department presenting a new idea for a product. During the discussion on the item afterward, Martin kept focusing on the cost of producing and marketing that product. The barrier facing Martin in this scenario is Filtering. Option A.

This is further explained below.

What is Filtering?

Generally, One way to reduce the number of potential investment possibilities inside a particular universe is to employ a filter.

In conclusion, A tiny firm has hired Martin as its finance director. Recently, he received a message from a division of the company informing him of a new product proposal. In the debate that followed, Martin kept bringing up the subject of how much it would cost to produce and promote that particular item. Filtering is the obstacle that Martin faces in this situation.

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CQ

Martin is the financial director of a small business. He recently read a memo from one department presenting a new idea for a product. During the discussion on the item afterward, Martin kept focusing on the cost of producing and marketing that product. The barrier facing Martin in this scenario is

filtering.

selective perception.

emotional disconnects.

semantics.

What strategy is american tile corp. using when it acquires a company that makes industrial cleaning products that american tile does not currently offer?

Answers

Diversification strategy is American tile corp. using when it acquires a company that makes industrial cleaning products that American tile does not currently offer.

When businesses want to expand, they use a diversification approach. In order to boost revenues, it is a practice to add a new product to your supply chain. These goods may represent a new subset of the market that your organization already serves, a strategy known as business-level diversification.

One of the four growth techniques popularized by Igor Ansoff is diversification. One of these growth techniques is more likely to work for your firm than the others, depending on the sector, size, and ambition of your business. As follows:

Product Development

Penetration

Market Diversification and

Development

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One of the disadvantages of investing in real estate is A) investors need expert help. B) pyramiding. C) equity buildup. D) leverage.

Answers

There are many disadvantages of investing in real estate and one of it is A) Investors need expert help.

What is Real estate?

The investment in property is known as real estate investment. There are many investors who invests in such assets, and earn rentals and capital gains.

The investment in real estate needs expert advice as the person who is the advisor should have the market information so that the perfect price can be quoted in order to purchase or sell an asset.

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Which question applies predictive thinking to a public policy solution?
A-What incentives might government offer to encourage compliance with the policy
B-What criteria should be used to judge the efficacy of the solution implemented?
C-Which policy idea has the best chance at meeting all identified criteria?
D-Which organizations and individuals can best help identify policy solutions?

Answers

The question that applies predictive thinking to a public policy solution is option A. What incentives might government offer to encourage compliance with the policy?

What is public policy solution?

Public policy is an institutionalized proposal to solve relevant and real-world problems, guided by a conception and implemented by programs as a course of action created and/or enacted, typically by a government or nonprofit organisation, in response to social issues.

Therefore, the correct answer is option A. What incentives might government offer to encourage compliance with the policy?

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Answer:

The answer is C

Explanation:

Which policy idea has the best chance at meeting all identified criteria?

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