Refer to Table 4-4. If a minimum wage of $9.50 is mandated there will be a
A) shortage of 20,000 units of labor.
B) surplus of 10,000 units of labor.
C) shortage of 10,000 units of labor.
D) surplus of 20,000 units of labor.
D
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Repeated play can change the outcome in sequential games by:
A. reducing the first-mover advantage. B. removing the incentive to cooperate. C. making collusion more probable. D. increasing the incentive to defect.
In order to increase the money supply, the banking system must have which of the following?
What will be an ideal response?
A graphic representation of the quantities of a good that will be bought at each price
a. demand curve b. income effect c. elastic d. inferior good
Why is it that all of our wants cannot be satisfied?
A. because of shortages B. because we cannot seem to decide what we really want C. because limited resources mean all the goods we want cannot be obtained D. because other people try to change your mind about what you want