« previous next »

Author Question: The equilibrium wage in a local labor market is 10 per hour. If a minimum wage of 15 per hour is ... (Read 198 times)

ssal

  • Hero Member
  • *****
  • Posts: 572
on: Jun 29, 2018
The equilibrium wage in a local labor market is 10 per hour. If a minimum wage of 15 per hour is imposed, which of the following will occur?
 
  A) There will be a decrease in the quantity of labor supplied by households.
  B) There will be an increase in unemployment.
  C) There will be an increase in the quantity of labor demanded by firms.
  D) All of the above will occur.

Question 2

Refer to Scenario 14-1. M2 in this simple economy equals
 
  A) 3,000. B) 8,000. C) 14,000. D) 21,000.


diana chang

  • Sr. Member
  • ****
  • Posts: 288
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Local Winds Local Winds
Local Anesthetic Agents Local Anesthetic Agents
Basal cell carcinoma is a local contraindication for massage. Basal cell carcinoma is a local contraindication for massage.
Stock Market Question Stock Market Question
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
The Hardy–Weinberg equilibrium for autosomal genes The Hardy–Weinberg equilibrium for autosomal genes
Video: Stroke volume - preload, sarcomere length and Frank -Starling law

For a complete list of videos, visit our video library