Fast food places do not pay their workers less than minimum wage because it is against the law. Which of Kohlberg's stages does this describe?
a. stage 1
b. stage 2
c. stage 3
d. stage 4
Ans: d. stage 4
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One impact of an import quota is to:
A. reduce both domestic production and domestic prices. B. reduce domestic production and increase domestic prices. C. increase domestic production and reduce domestic prices. D. increase both domestic production and domestic prices.
Monopolistic competition differs from perfect competition only in the number of firms participating in the market.
Answer the following statement true (T) or false (F)
Explain two different ways to determine the profit-maximizing level of output for a firm in a perfectly competitive market
What will be an ideal response?
The expenditure multiplier is greatest when the
A) LM curve is positively sloped. B) LM curve is horizontal. C) IS curve is vertical. D) LM curve is vertical.