This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: New classical macroeconomic theory emphasizes the role of sticky prices in the economy. Indicate ... (Read 103 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
on: Jun 29, 2018
New classical macroeconomic theory emphasizes the role of sticky prices in the economy.
 
  Indicate whether the statement is true or false

Question 2

Explain what would happen if the equilibrium wage in the labor market was below the legislated minimum wage.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

livaneabi

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

In this case the likely result will be unemployment. The higher wage will attract new entrants to the labor force (that is quantity supplied of labor will rise) but firms will hire fewer workers (the quantity demanded for labor will drop).


dollx

  • Member
  • Posts: 558
Reply 2 on: Jun 29, 2018
Gracias!

Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

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?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it. In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
Signal Detection Theory Signal Detection Theory
Sticky foods such as dried fruits can adhere to teeth and promote decay Sticky foods such as dried fruits can adhere to teeth and promote decay
Describe the development of atherosclerosis, including its role in the risk of heart disease Describe the development of atherosclerosis, including its role in the risk of heart disease
Sternberg's theory postulates three components of love Sternberg's theory postulates three components of love
economy manegment economy manegment
Video: Flexor reflex & Crossed extensor reflex

For a complete list of videos, visit our video library