In the above figure, if the minimum wage is set at $6 per hour, what quantity of labor is employed?
A) 100 million hours
B) 200 million hours
C) 300 million hours
D) 400 million hours
A
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The MPC is equal to the
A) level of consumption expenditure divided by the level of total disposable income that brought it about. B) change in consumption expenditure divided by the total disposable income that brought it about. C) change in disposable income divided by the change in consumption expenditure. D) level of consumption divided by the change in disposable income that brought it about. E) change in consumption expenditure divided by the change in disposable income that brought it about.
When the price of a burrito increases from $2 to $4, the quantity demanded decreases from 50 to 40. Using the midpoint method, the price elasticity of demand equals
A) 1/3. B) 3. C) 2. D) 1. E) 1/2.
A (non-price discriminating) monopolist with zero marginal cost but recurring fixed costs may end up not producing even if it would be efficient for him to produce.
Answer the following statement true (T) or false (F)
For this question, suppose the domestic interest rate is 4% and that the foreign interest rate is 7%. And finally, assume that the domestic currency is expected to depreciate by 3% during the coming year. Given this information, we know that
A) individuals will only hold domestic bonds. B) individuals will only hold foreign bonds. C) individuals will be indifferent about holding domestic or foreign bonds. D) the interest parity condition holds.