Increases in the minimum wage are in every worker's best interest.
Answer the following statement true (T) or false (F)
False
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Suppose Mara and David compete, selling fried green tomatoes in a perfectly competitive market. If Mara increases output,
a. David must reduce output b. the price David can charge falls c. the price David can charge rises d. the price David can charge is unaffected e. David's economic profit must fall
Perfectly competitive firms always earn economic profits in the short run.
Answer the following statement true (T) or false (F)
Refer to the above table. Real GDP in 2017 is
A. 500. B. 190.8. C. 524.1. D. 477.
If you want to purchase a new sailboat in two years for $9,000, how much would you presently need to have in your bank account to have $9,000 in two years? Assume your bank account pays 3 percent interest
A) $8,484 B) $8,613 C) $8,738 D) $8,822