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Currently, the island of Guam does not have a minimum wage requirement but uses the U.S. minimum wage as a reference. Provide a theoretical justification for why the imposition of a $5.15 minimum wage in Guam might have a detectable impact on overall employment on the island. Explain why the $5.15 minimum wage in New Jersey likely has less of a detectable impact on employment.
Using the Lerner index, find the price elasticity of demand for Botox and interpret what this value means to total revenue if the price of Botox were increased one percentage point.
Suppose Sally only purchases food and clothing, and her utility can be expressed as U = F _ C. Currently-What is her optimal bundle?
Explain how has the relative composition of M1 changed since 1965? Do your best to explain why this change has occurred.
Discuss how a change in price affects total expenditure by filling in each cell with resulting change in total expenditure.
Illustrate what effect a contractionary fiscal policy have on the price level and real GDP.
Find out the income elasticity of demand. Elucidate whether gas is a normal or inferior product.
The effects on the development also diffusion of computer technology in the 1970s and 1980s on the U.S. economy in the late 1990s to the present.
Elucidate how the steepness of the short run aggregate supply curve affects the government's ability to use fiscal policy to change real GDP.
Explain why is strong home currency mitigate the growth of inflation rate locally
Explain how much control might an organization have over pricing based on a product's elasticity
Elucidate proportion of the variation in sales is explained by the independent variables in the equations
Elucidate your answer also describe terms relevant to elasticity used in your explanation.
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