Someone using the reasoning process consistent with the impartial spectator tool would argue that the minimum wage is a:
A. good policy because, based on one's reasoned judgment, it would lead to the greatest good for the greatest number.
B. bad policy because, based on one's reasoned judgment, it interferes with the market.
C. good policy since based on one's reasoned judgment, it will raise one's wage.
D. bad policy since, based on one's reasoned judgment, it will cause unemployment.
Answer: A
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In response to an increase in the population and the labor force, we would expect
a. both the short run and long run Phillips curve to shift to the right. b. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right. c. the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right. d. both the short run and long run Phillips curve to shift to the left. e. none of the above.
Explain the role of the International Monetary Fund. Discuss the criticisms leveled against this agency in the wake of economic crises of the 1990s
Bank deposits at the Federal Reserve = $40 billion, vault cash = $2 billion, the required reserve ratio = 0.10, and total checkable deposits = $400 billion. It follows that required reserves equal __________ billion, (total) reserves equal __________ billion and excess reserves equal __________ billion
A) $42; $42; $2 B) $42; $40; $2 C) $2; $40; $38 D) $38; $40; $2 E) $40; $42; $2
A change in the capital stock ________ the short-run aggregate supply curve and ________ the long-run aggregate supply curve.
What will be an ideal response?