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Case Study: The intent of minimum wage laws is to generally ensure a living wage available for all U.S. citizens-in other words, to decrease poverty in America. However, as we learned this week, minimum wage laws lead to labor surpluses, which lead to unemployment, which lead to poverty. One can conclude that minimum wage laws are not the correct solution to the poverty issue.
Question: This week, you will prepare a presentation to appear before your local city council, regarding a decision to increase the minimum wage, discussing the following:
Now, you collect your sample of 200, and you find that 115 people actually voted yes. Use the CLT to approximate the probability that you would find 115 or fewer yes votes from a random sample of 200 if, in fact, 65% of the entire popu- lation vo..
concepts as microeconomics or macroeconomics.
Write a 4-6 page (12-point font, double-spaced) essay evaluating the role of governments in assuring that developing countries obtain a fair and adequate share of the benefits of international trade.
Describe why an improvement in resource extraction technologies can enhance Peak Oil.
Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers.
Using the ideas of marginal costs and marginal revenues, describe why economic profits are maximized where marginal revenue equals marginal cost and why profits decline if price is above or below the profit maximizing price.
Suppose the government plans to levy pollution emission rights "Pollution emission charges" with the aim of reducing the total pollution by 30 tons.
What is an efficiency wage, and how do efficiency wages affect the labor market?
. Assume the annual interest rate at 8% per year and the investments and withdrawals of funds are made at the end of each year. How much money you will need in this account right after your last deposit How much do u have to invest each year to rea..
for each year calculate the percentage change in the exchange rate and in net exports. are net exports generally rising
Google rejects the idea that it's in the search advertising business, an industry in which it holds more than a 70 percent share of revenue. Instead the company says its competition is all advertising, a category broad enought..
A random sample of 51 items is taken, with x Overscript bar EndScripts equals 58.42 and s2 = 25.68. Use these data to test the following hypotheses, assuming you want to take only a 1% risk of committing a Type I error and that x is normally d..
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