Which of the following examples would cause the most serious unemployment?
a. The minimum wage is increased by 50 percent.
b. The minimum wage is increased by 10 percent.
c. The minimum wage is decreased by 50 percent.
d. The minimum wage is decreased by 10 percent.
a. The minimum wage is increased by 50 percent.
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Which of the following statements is true?
A. National income is total income earned by households whereas personal income is total income received by households (including transfer payments). B. Disposable personal income equals personal income plus personal taxes. C. The expenditures approach yields a higher GDP value than the income approach. D. The expenditures approach yields a lower GDP value than the income approach.
Why is it important that a firm can prevent resale of its product if it wishes to engage in price discrimination?
What will be an ideal response?
In which of the following markets are demand and marginal revenue equal?
A) Monopoly, oligopoly, and monopolistic competition B) Monopoly, oligopoly, and perfect competition C) Perfect competition only D) Monopolistic competition only
What is the source of comparative advantage in the Heckscher-Ohlin model?
What will be an ideal response?