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President Barack Obama's quest to raise the federal minimum wage to $10.10 an hour would eliminate about 500,000 jobs by 2016 but increase pay for millions of American's and lift nearly a million out of poverty, a Congressional Budget Office report found. Analyze the labor market with a minimum wage of $10.10 per hour. Show the shift of supply and/or demand curves and explain why the curve(s) shifted.
If one has 3 choices to move business into another country and the following information exists, should you do so in if so which country would you choose?
Consider the following statement. "Winter ice storms that sometimes hit Chicago are good for the economy. They create many jobs to remove downed limbs and replace trees and bushes." Do you agree that ice storms are a net benefit to the economy? To an..
q1. during a coffee-room debate among several young mbas who had in recent times graduated among all one of the young
Market power and externalities are examples of market failures. Taxes on labor tend to encourage second earners to stay at home rather than work in the labor force. Taxes cause deadweight losses because they prevent buyers and sellers from realizing ..
An increase in capital per worker will: Technological progress will: If technology advances, then:
What is the average time period for the introduction of a new drug into market? Which drug is likely to be the most profitable for its producer (in terms of average “per-drug” profit)? Which one of the following basic findings about for-profits is no..
One of the most debated areas in economics is balancing the budget. The major contention is on the timing of the policy. If the government were to operate under a strict balanced-budget rule, what do you think would it have to do in a recession? Shou..
Per capita income in County A is $45,000. Per capita income in County B is $38,000. Physician visits average 3.4 per year in County A and 3.2 per year in County B. What is the percent change in the demand for visits?
Explain the process of how that movement occurred using behaviors of consumers and suppliers. Graph the movement between the two points as well.
If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What conditions would encourage research and development in competitive ..
Through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus ‘move outside its production possibilities curve.’”
Consider the following situation for the US economy and answer the following questions. Suppose there are 10 million people living in the US. in 2013, Obama has to spend $8 per capita in wages to government employees and $2 per capita in government e..
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