As a result of establishing a legal minimum wage above the market clearing wage
A) there will be a shortage of workers.
B) firms will hire fewer workers.
C) firms will hire more workers.
D) fewer workers will want to work.
Answer: B
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If the average productivity of Indian firms is rising more quickly than the average productivity of American firms, which of the following would you expect to see? (India's currency is the rupee.)
A) an increase in the prices of Indian products B) a decrease in the value of the rupee relative to the dollar C) an increase in the quantity demanded of Indian products relative to American products D) All of the above are correct.
Projection bias:
A. is the tendency to evaluate present consequences based upon tastes and needs of the future. B. is the tendency to evaluate future consequences based on tastes and needs at the moment of the decision making. C. is the tendency to project future states of mind to the present. D. can lead people to overestimate their adaptability.
Which of the following would lead to a depreciating dollar?
a. a higher federal deficit b. lower interest rates c. higher interest rates d. contractionary monetary policy
If demand elasticity of airline tickets is 3, what percentage change in quantity would the airlines expect from a 10% increase in price?
What will be an ideal response?