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After years of no change, a few years ago, we had a three phased increase in minimum wage. Now we are discussing raising it further, to $10.10 an hour Are people that work for minimum wage better off after an increase in minimum wage? Why or why not? Think about this from the perspective of the business. What will a business do if it is faced with an increase in labor cost?
How will this impact people that previously earned $11.00 an hour? Will they get an increase as well?
Before the last increase, the unemployment rate was 4.7%; after the increase, the unemployment rate rose to 10% and although declining now, is still over 6%. Could there be a relationship between the increase in minimum wage and the unemployment rate?
The price of wine is $10 per bottle, and the price of cheese is $4 per pound. The last bottle of wine added 50 units to Bridget's utility, while the last pound of cheese added 40 units. Is Bridget making the utility-maximizing choice.
Using the value of MPC = 0.8, and knowing the difference between the values of expenditure multiplier and the tax multiplier, it can be safely stated t hat the reduction of taxes by $40 0 billion (other things staying the same) , Estimate increased l..
In regard to developing countries, if American foreign policy makers have to choose between supporting an election that brings to power an anti-American government or supporting a dictator who is pro-American, which should they choose, and why? ? How..
The cause and effect on how and why there was a government shut down a month ago.
A Wartburg engineering student graduates with student loans in the amount of $41400 that have a repayment APR of 7.66%. How much will the annual payments be if they intend to pay off the loans in 14 years?
The supply curve of a firm in the long run, is:
An investment of $1.5 million is made at time zero with annual revenues of $600,000 in year 1, growing at a rate of 15% annually over a seven-year horizon. Annual operating and maintenance costs are estimated at $150,000 per year increasing every yea..
There was some dramatic change in the market structure that the one firm merges all the firms in the aforementioned industry. That means now the industry has a monopolist. Find the price, quantity, and the level of profit that a monopolist will face...
The real interest rate is 4 percent, and the nominal interest rate is 6 percent. What is the anticipated rate of inflation?
The economy has recently turned around, and one of your colleagues suggests that you could hire 25 people for $50,000 per employee to do the sales job as independent agents at a cost of goods sold (COGS) of only 0.5%. What concerns might you have abo..
If the required reserve ratio is 0.05 and the Federal Reserve buys $1 billion in treasury securities, the money supply would Increase/decrease(circle one) by $_____________. This would lead to an increase/decrease (circle one) in interest rates.
Small businesses often rely on lending institutions to finance their ventures. Banks, however, are not the only means to secure capital. Through creative and diligent research, entrepreneurs may uncover alternative sources of funding for their small ..
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