Refer to Table 4-4. If a minimum wage of $10.50 is mandated there will be a
A) surplus of 30,000 units of labor. B) surplus of 60,000 units of labor.
C) shortage of 60,000 units of labor. D) shortage of 30,000 units of labor.
B
Economics
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Does the decision to make a blockbuster movie mean that some other more desirable activities get fewer resources than they deserve? Is your answer positive or normative? Explain your answer
What will be an ideal response?
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Refer to Scenario 14.4. Suppose that the price of the product rises to $5, the price of labor
A) will decrease. B) will increase. C) will not change. D) will change in an indeterminate fashion.
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