Refer to Table 4-4. If a minimum wage of $10.50 an hour is mandated, what is the quantity of labor supplied?
A) 400,000 B) 370,000 C) 340,000 D) 60,000
A
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"My broker studies the stock market and the management of specific firms. When he advises me to buy, I listen because he is an expert." Analyze this view
Diseconomies of scale refers to when in the long run:
A. average total cost does not depend on the quantity of output. B. an increase in the quantity of output increases average total cost. C. an increase in the quantity of output decreases average total cost. D. None of these is true.
Suppose that Argentina's dollar-denominated external assets and liabilities are $10 billion and $100 billion, respectively, and its Argentine peso-denominated external assets and liabilities are each 50 billion pesos (P). Suppose further that Argentina fixes its exchange rate at P1 = $US1. What is the peso value of Argentina's total external wealth?
A) -60 billion pesos B) -150 billion pesos C) -0 billion pesos D) -90 billion pesos
Which of the following would be a positive economic statement?
a. Bankers are now charging higher interest rates on credit cards to cover the increased cost of loaning funds to consumers b. The United States should be more aggressive in its trade negotiations with its major trading partners to help reduce the trade deficit c. More money should be allocated by the Federal government to social programs and less money to national defense d. Rents for apartments in this city are too high and must be controlled by city government to keep landlords from making too much profit