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A legal minimum wage does all but which ONE of the following? a) Reduces the quantity of labor demanded b) Increases the quantity of labor supplied c) Creates a market surplus of labor d) Creates a market shortage of labor
You borrow $15,000 from your credit union to purchase a used car. The interest rate on your loan is 0.25% per month∗ and you will make a total of 36 monthly payments. What is your monthly payment?
Explain briefly the various parts of the circular flow diagram representing the interactions between households and firms in a simple economy.
Find the effects of the increase in the expected future MPK on current output and prices from the AD-AS diagram based on the misperceptions theory. What accounts for the difference with part a?
Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages paid to the few workers he employs at the dairy and the grain he feeds to..
What 3 items of important information does the income statement reveal about the financial performance of T-Mobile over the last three years?
Describe Okun's law. Do you believe Okun's law holds up in the current economy? Explain the relationship between unemployment and gross national product (GNP).
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
Suppose you are a marketplace analyst specializing in theme parks also you're examining Disneyland's stock.
say you are the manager of a perfectly competitive firm selling a product. your business is making a loss because total
Briefly explain the difference between economic forecasting and business forecasting. What is the best economic tool to help the leaders to see future better than others economically 6 to 9 months before the cycles of the business cycles of the US ec..
Why does the firm’s supply curve slope up in the short run (i.e. what assumption is employed to argue that the supply curve slopes up in the short run)?
German unification involved massive expenditures for infrastructure in the east, as well as transfer payments to many former East Germans.
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