Author Question: Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, ... (Read 95 times)

james9437 · **on:** Jun 29, 2018

Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many clocks will Belize gain compared to the without trade numbers?

A) -100 B) 100 C) 120 D) 250

Question 2

Which of the following is a consequence of minimum wage laws?

A) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage.
B) Employers will be reluctant to offer low-skilled workers jobs with training.
C) All workers benefit when the minimum wage is increased.
D) Low-skilled workers benefit because minimum wage increases the number of jobs providing low-skilled workers with training.