The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $4 per hour, how many hours do students work?
A) 12,000 hours
B) 9,000 hours
C) 6,000 hours
D) None of the above answers is correct.
B
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If any country decides to exit from the Eurozone, it will gain ________
A) free capital mobility B) a fixed exchange rate C) reduced transactions costs D) monetary policy independence
Central banks get the purchasing power to make discount loans by:
a. Reducing currency in circulation. b. Buying government securities. c. Taking loans from the government. d. Increasing their liabilities in the form of deposits from banks.
The factors of production include all of the following EXCEPT:
A.) Money. B.) Land. C.) Labor. D.) Entrepreneurship.
Which of the above diagrams illustrate(s) the effect of a decline in the price of irrigation equipment on the market for corn?
A. B and C B. D only C. C only D. B only