Since the minimum wage rate began it has typically stayed at about what percentage of the average manufacturing wage?
A) 10-20%
B) 20-30%
C) 40-50%
D) 75-80%
Answer: C
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Refer to Figure 11.5. A decrease in exports is best illustrated by diagram
A) A. B) B. C) C. D) D.
Explain when a country would face a balance of payments deficit and when it would face a balance of payments surplus if it was operating under a fixed exchange rate system
What will be an ideal response?
According to the text, the price elasticity of demand for bath tissue has been estimated to be -2.42. This implies that a 10 percent decrease in the price of bath tissue would cause the quantity demanded of bath tissue to:
A) increase by 2.4 percent. B) decrease by 2.4 percent. C) increase by 24.2 percent. D) decrease by 24.2 percent.
Barbara owns a small shop where dresses are made. At the end of a given month, she has 250 dresses. Her expenses for the month are $1,000 for rent, $6,000 for wages, $1,500 for fabric and thread, and $500 for electricity. Her total variable costs for the month are:
A. $8,000. B. $4,000. C. $32 per dress. D. $7,500.