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Opponents of the minimum wage point out that the minimum wage:
a. encourages teenagers to drop out of school.
b. prevents some workers from getting needed on-the-job training.
c. contributes to the problem of unemployment.
d. All of the choices apply.
Home and Foreign are two identical countries except that people in Home work twice as hard of those in Foreign. Each has two industries (Steel and Shoe industries), where steel production is capital intensive and shoe production is labor intensive. U..
Provide details on the fiscal policies between 2000 and 2010 and examine how they were related to macroeconomic issues at the time.
Benny decides to buy living room furniture worth $3000. He plans to finance the furniture for two years. The furniture store tells him that the interest rate is only 1%/mo/mo and his monthly payment is computed as follows:
We said that an uncrowned country club golf course has aspects of public good.
q1. recall that abc company has periodically borrowed funds but contemplates a stock or bond offering so that it can
The relevant cost in economic decision-making is the opportunity cost of the resources rather than the outlay of funds required to obtain the resources.
Illustrate the marginal revenue curve that corresponds to positive marginal revenue. Line segments will automatically connect the points.
the set of efficient trades these individuals would rationally make. One of the points on the set of efficient trades you illustrated in your diagram will be a competitive equilibrium.
In the specific factors model predict who seeks protection against trade and who does not. Explain your answer. How does your answer change in the Hecksher-Ohlin model? Explain
If it had doubled its land as well as labor, production would have been 325000 bushels. Does it have increasing, decreasing or constant returns to scale.
What is the equilibrium output and price level? If aggregate demand shifts right, what is equilibrium output? If aggregate demand shifts left, what is equilibrium output?
Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output. Do you agree or disagree with this assessment? Why?
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