The above figure shows a labor market with minimum wage equal to $16. In this figure, what area equals the resources lost because of job search?
A) area A
B) area B
C) area C
D) area D
E) area E
B
Economics
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Other things constant, the economy's aggregate demand curve shows that
A) as the price level falls, real GDP decreases. B) any change in the price level shifts the aggregate demand curve. C) the quantity of real GDP demanded decreases when the price level rises. D) the quantity of real GDP demanded and the price level are not related.
Economics
Using the Coase theorem, why might a firm that currently pollutes a river no one owns pollute the river less if it owned the river?
What will be an ideal response?
Economics