In the long run, increases in the money supply increase the economy's potential output level

The table above gives the labor market for a small foreign economy. A minimum wage law that sets the minimum wage at $8.50 per hour produces

A) a labor surplus of 65 million hours. B) a labor shortage of 25 million hours. C) a labor surplus of $0.50 per hour. D) a labor surplus of 25 million hours. E) equilibrium in the labor market.

One economically efficient way to eliminate the Tragedy of the Commons is to

a. tax the owners of the resource. b. prevent anyone from using the resource. c. reduce the marginal social benefit of the resource. d. establish private ownership of the resource.