In the above figure, if the minimum wage is set at $2 per hour, what quantity of labor is employed?
A) 100 million hours
B) 200 million hours
C) 300 million hours
D) 400 million hours
B
Economics
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Refer to Figure 17-2. If Becca can sell her bracelets at $3 each, what is the marginal product of the 4th worker?
A) 36 bracelets B) $36 C) $144 D) 12 bracelets
Economics
If the bank of Waterloo receives a $10,000 deposit and the reserve requirement is 10 percent, how much can the bank loan out? (Assume that before the deposit this bank is just meeting its legal reserve requirement.)
A) $1,000 B) $9,000 C) $10,000 D) $11,000
Economics