If the CPI declines from 300 to 270, the price level fell by _____ percent.
Fill in the blank(s) with the appropriate word(s).
10
Economics
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Suppose the government raises the minimum wage in the economy. All else constant, how will this affect the quantity of labor demanded and the quantity of labor supplied?
What will be an ideal response?
Economics
What is the quantity theory of money?
What will be an ideal response?
Economics
What would be the long-run equilibrium result of output expansion in a decreasing-cost industry?
Economics
Refer to the above graph. If this economy was an open economy without a government sector, the level of GDP would be:
A. $100 billion
B. $200 billion
C. $300 billion
D. $400 billion
Economics