This Application discusses the ________ and its enforcement of international trade laws
A) World Trade Organization B) General Agreement on Tariffs and Trade
C) European Union D) North American Free Trade Agreement
A
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The figure above illustrates the current market for workers in Lima, Peru
a) Without any government intervention, what is the equilibrium wage rate and amount of employment? b) If the city government imposes a minimum wage of $3 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not? c) If the city government imposes a minimum wage of $6 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not?
Employers tailor compensation packages to attract employees who will give them a competitive edge in the market
Indicate whether the statement is true or false
Marcia is a white 23-year-old female, and Joan is a black 23-year-old female. Both Marcia and Joan were economics majors, and they graduated from the same college in the same year with the same GPA. Marcia and Joan both got identical jobs at a brokerage firm after graduating from college. They both work equally hard. Marcia earns $38,000 a year, and Joan earns $30,000 a year. Select the best
explanation for this wage difference. a. Marcia has less human capital than Joan. b. Marcia receives a compensating wage differential that Joan does not. c. Joan has been discriminated against because she is black. d. Marcia has been discriminated against because she is white.
Suppose Congress institutes an investment tax credit. What would happen in the market for loanable funds?
a. The interest rate and investment would fall. b. The interest rate and investment would rise. c. The interest rate would rise and investment would fall. d. None of the above is necessarily correct.