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Author Question: Disposable personal income is defined as A) personal income less personal taxes. B) personal ... (Read 185 times)

Ebrown

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on: Jun 29, 2018
Disposable personal income is defined as
 
  A) personal income less personal taxes.
  B) personal income less personal taxes plus indirect sales taxes.
  C) personal income less transfer payments plus personal taxes.
  D) personal income less depreciation.

Question 2

How will a government-imposed minimum wage affect the equilibrium level of employment in a competitive labor market and in a monopsony labor market?
 
  What will be an ideal response?
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Jossy

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

In a competitive labor market, a minimum wage should reduce the equilibrium level of employment. In the case of a monopsony, imposing a minimum wage removes market power from the single firm and encourages the firm to hire more workers than it would otherwise.


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Ebrown

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Reply #2 on: Jun 29, 2018
Thank you


Jossy

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Reply #3 on: Jun 29, 2018
No problemo


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