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 79 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
Great answer, keep it coming :)

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology 1 The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology 1
The Role of Microglia as the Protector of Brain The Role of Microglia as the Protector of Brain
Trichromatic Theory of Color Vision Trichromatic Theory of Color Vision
How Mendel’s theory accounts for the results of his experiment on the inheritance of seed color in ... How Mendel’s theory accounts for the results of his experiment on the inheritance of seed color in ...
Classical complement activations. IgM and IgG3, IgG1, and IgG2 activate the classical pathway of ... Classical complement activations. IgM and IgG3, IgG1, and IgG2 activate the classical pathway of ...
Natural Resource Prices, 1850–2010 Natural Resource Prices, 1850–2010
Video: Interview with an Anorexic Woman (Part 2 of 2)

For a complete list of videos, visit our video library