We currently run a negative trade balance in ______ and a ______ trade balance in services.
Fill in the blank(s) with the appropriate word(s).
merchandise; positive
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The market for unskilled labor is illustrated in the figure above. The market is in equilibrium and then a minimum wage of $5 per hour is imposed. Employment will fall by
A) 0 hours. B) 10 million hours per year. C) 20 million hours per year. D) 30 million hours per year.
The marginal product of labor (MPL) can be calculated from the following ________
A) the labor share of income and the average output per unit of labor B) the labor share of income and average labor per worker C) output and labor D) the labor share of income and output E) none of the above
A quantity restriction leads to a price ________ the equilibrium price.
A. at B. above C. below D. Either at or above is correct.
It is normal and typical in a debt crisis for debtors to completely repudiate all their debts
Indicate whether the statement is true or false