Author Question: The minimum wage A) is type of price ceiling. B) is a type of price floor. C) can create a ... (Read 102 times)

Bernana

  • Hero Member
  • *****
  • Posts: 530
The minimum wage
 
  A) is type of price ceiling.
  B) is a type of price floor.
  C) can create a surplus of labor.
  D) Both answers A and C are correct.

Question 2

How has U.S. real GDP per person changed over the last 100 years?
 
  What will be an ideal response?



bobsmith

  • Sr. Member
  • ****
  • Posts: 316
Answer to Question 1

D

Answer to Question 2

Although the U.S. economy usually displays growth in real GDP per person, there have been periods of time when real GDP per person has fallen. The decline is usually mild, although this was not the case during the Great Depression, which had a severe decrease in real GDP per person. Overall, the average yearly growth rate was higher after World War II than prior to the Great Depression. Prior to the Great Depression, the yearly U.S. growth rate of real GDP per person averaged only about 1.4 percent per year, while after World War II it averaged 2 percent per year. And, over the entire 100 years, the U.S. growth rate of real GDP per person has averaged about 2 percent per year.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

For a complete list of videos, visit our video library