Discuss the Correct and Incorrect Economic Analysis in the Following

question 143

Essay

Discuss the correct and incorrect economic analysis in the following statements.
"The Canadian Auto Workers union has successfully negotiated a 9 percent increase in wages for its workers.This increase in the wage rate causes an increase in demand for automobiles, since many consumers now have greater incomes, and also causes a decrease in supply of automobiles because the cost of production has increased.These effects cancel each other out resulting in no change in the equilibrium price and quantity in the automobile market."

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Definitions:

Douche

Vaginal irrigation, which can be used to administer vaginal medication in liquid form.

Diluent

A liquid used to dissolve and dilute another substance, such as a drug.

Sublingual Medication

Drugs that are administered by being placed under the tongue for absorption through the mucous membranes into the bloodstream for faster action.

Oral Route

A method of drug administration where medication is taken through the mouth.