A decline in the minimum wage rate offered for janitorial services will cause:
a. the labor supply curve to shift rightward
b. the labor supply curve to shift leftward.
c. a downward movement along the labor supply curve.
d. an upward movement along the labor supply curve.
c
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Protectionism
The idea that business fluctuations are primarily caused by factors affecting aggregate supply rather than aggregate demand is a central tenet of
A. efficiency wage theory. B. mainstream economics. C. real business cycle theory. D. monetarism.
The above figure shows the market for gourmet ice cream. In effort to reduce obesity, government places a $2 tax per gallon on suppliers in this market, shifting the supply curve from S0 to S1. The total tax revenue is equal to
A) $400,000. B) $800,000. C) $500,000. D) $200,000. E) More information is needed to determine the total tax revenue.
What matters most to importers and exporters is the nominal exchange rate
Indicate whether the statement is true or false