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 97 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
:D TYSM

lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes. Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes.
Mason Williams - Classical Gas Mason Williams - Classical Gas
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Formation of primary and secondary lysosomes and their role in cellular digestive Formation of primary and secondary lysosomes and their role in cellular digestive
Vitamin D plays a major role in bone health Vitamin D plays a major role in bone health
Natural Resource Prices, 1850–2010 Natural Resource Prices, 1850–2010
Video: Dendrite Animation

For a complete list of videos, visit our video library