The purchasing power (real value) of the federal minimum wage in March 1990 was the same as it was in 1981
Indicate whether the statement is true or false
F
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A cartel is a group of firms that
A) produce differentiated products. B) produce products that are complements. C) agree to restrict output to boost their profit. D) agree to boost output to boost their profit.
On December 29th, the cost of a skiing trip to Finse, Norway, was 6,500 krone. Two weeks later, the American dollar appreciated against the Norwegian krone. If the price of the trip in Norway remains the same, _____
a. an American skier living in Florida will now view this trip as cheaper compared to before b. an American skier living in Florida will now view this trip as highly expensive compared to before c. an American skier living in Florida will now view this trip as of the same value as before d. an American skier living in Florida will now value this trip less as compared to before e. an American skier living in Florida will no longer take this trip
During the 1992 presidential campaign, H. Ross Perot made much of the various "special interests" which lobby in Washington, D.C. How might an economist view this? Which specific market breakdown may occur if there is lobbying? Relate your answer to the study of monopoly and oligopoly
If P rose by 20% and Q stayed the same, what would happen to MV?
What will be an ideal response?