A minimum wage set above the equilibrium wage rate is a price ________ that ________ the quantity of low-skilled labor demanded
A) ceiling; decreases
B) ceiling; increases
C) floor; decreases
D) floor; increases
C
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An unusually warm winter shifts the
A) supply curve of gloves rightward. B) supply curve of gloves leftward. C) demand curve for gloves rightward. D) demand curve for gloves leftward.
The graph below represents the market for alfalfa. The market price is $7.00 per bushel. Identify the areas representing consumer surplus, producer surplus, and economic surplus
What will be an ideal response?
Identify the direction of the change during a recession in each of the following: consumption expenditures, investment expenditures, and unemployment
If marginal cost is between average variable cost and average total cost, then
A. average variable cost is increasing and average total cost is decreasing. B. both average variable cost and average total cost are increasing. C. both average variable cost and average total cost are decreasing. D. average variable cost is decreasing and average total cost is increasing.