Minimum wage laws cause unemployment because the legal minimum wage is set

A) below the market wage, causing labor demand to be greater than labor supply.
B) too low.
C) above the market wage, causing labor demand to be greater than labor supply.
D) below the market wage, causing labor demand to be less than labor supply.
E) above the market wage, causing labor demand to be less than labor supply.


E

Economics

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In the market for a particular pair of shoes, Jena is willing to pay $75 for a pair while Jane is willing to pay $85 for a pair. The actual price that each has to pay for a pair of shoes is $65. What is the combined amount of consumer surplus for Jena and Jane?

A. $215. B. $130. C. $10. D. $30.

Economics

Silvio's Pizza is a small pizzeria. The firm's production function is shown in the table above

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Economics

If the MPC is 0, then the multiplier is

a. 0. b. 1. c. infinite. d. None of the above is correct.

Economics

Refer to the above figure. If box B represents the resource market and flow (3) represents money income, then:

A. box C is the product market and box D is households. B. box C is the product market and box A is households. C. box A is the product market and box C is households. D. box D is the product market and box C is households.

Economics