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According to the News on page 677, what percentage of retail jobs would be lost if the minimum wage were increased to $9.50? Obama Wants $9.50 Minimum Wage (Crains)- When Barack Obama and his fellow Democrats take power in Washington, DC. restaurant operators are expecting them to push a minimum wage hike. Obama wants to boost the federal minimum wage to $9.50 an hour by 2011, up from $7.25 an hour in 2009. Minimum Wage The National Restaurant Association opposes raising the minimum wage, which has gone to $6.65 this year from $5.15 in 2006, and is scheduled to rise to $7.25 in July. The association In June conducted a survey of 1,300 members in 18 states that found that 58 percent raised menu prices and 41 percent reduced employee hours because of the higher minimum wages. Joe Sabia, an assistant professor of public policy at American University in Washington, DC. says that a 10 percent increase in minimum wage reduces retail employment by 1 percent. Obama's proposal would raise the federal minimum wage by over 30 percent, causing even greater job loss at a time when our economy can least afford it. Mr. Sabia contends.
At the end of 2006 an expert economist from the Global Economic Institute in Kiel, Germany, predicted a drop in the value of the dollar against the euro of 10% over the next 5 years. If the exchange rate was $1.27 to 1 euro on November 5, 2007.
In an attempt to increase revenues and profits, a firm is considering a 4 percent increase in price and an 11 percent increase in advertising. If the price elasticity of demands is -1.5 and the advertising is +0.6 would you expect an increase or d..
America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage
find the covariance between hourly wage X and education Y (measured in years of schooling) using the following summary statistics for a sample of 10 workers in a plant. xbar = 11.775 ybar=13.8 sum of (x-xbar)(y-ybar) = 103.55 sum of xy =1728.5
If the price of milk increases by 10% and the quantity demanded decreases by 15%: a) Calculate the price elasticity of demand for milk b) Is demand elastic or inelastic in this range
Macromedia is a relatively new company that offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the activity that the instructor is presenting. To introduce themselves to ..
In what kind of market structure does the firm sell its output? How can you tell In what kind of market structure does the firm rent robots How can you tell Calculate the marginal product and the value of the marginal product for each additional robo..
A family wants to start an education account in 2010 (1st payment at year end 2010) by making equal annual payments in constant 2010 dollars until the time of the last tuition payment. Calculate the equal annual constant 2010 dollar payment.
competitive brand of cornfl akes, in dollars per 10- ounce box P M = price of milk, in dollars per quart A = advertising expenditures of CFC cornfl akes, in hundreds of thousands of dollars per year This year, P X = $ 2, I = $ 4, P Y = $ 2.50, P M..
In the late 2010, you purchased the common stock of a company that has reported significant earnings increases in nearly every quarter since your purchase. The price of the stock increased from $12 a share at the time of the purchase to a current ..
Paul consumes two goods: potatoes and leisure, N. the number of potatoes Paul consumes does not vary, but their tastiness, T, does. For each extra unit of tastiness, he must spend Pt hours in the kitchen. Thus, Paul's time constraint is N+PtT=24. ..
Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry'..
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