The above figure shows the market for biologists. The government decides to set a minimum wage for biologists of $18 per hour. After this minimum wage is in effect, unemployment equals ________ workers
A) 100
B) 300
C) 400
D) 500
E) 200
E
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Give examples of factors that decrease aggregate supply. Which way does the AS curve shift?
What will be an ideal response?
The relationship depicted in the above figure is
A) a negative linear relationship B) a positive linear relationship C) a positive becoming less steep relationship D) a positive becoming steeper relationship
Suppose you purchase a new home for $150,000, making a down payment of 10% and taking out a mortgage on the balance. What is the return on your investment in your home if one year later the price of your home decreases by 20%?
A) -10% B) -30% C) -50% D) -200%
Central bank independence ________
A) is receding as democratic movements gain influence around the world B) is correlated with relatively high unemployment C) remains an obstacle to policy transparency D) is the norm in a growing number of countries