The table above gives the labor market for a small foreign economy. A(n) ________ would create ________
A) minimum wage of $9.00; a decrease in job search.
B) minimum wage of $5.00; an increase in job rationing.
C) efficiency wage of $9.00; an increase in job rationing.
D) efficiency wage of $8.00; unemployment and job rationing.
E) union-negotiated wage of $7.50; unemployment and job rationing.
C
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The IS curve will shift to the right when which of the following occurs?
A) an increase in the money supply B) an increase in government spending C) a reduction in the interest rate D) all of the above E) none of the above
In 2008, Computers, Inc produced personal computers worth $20 million. If $16 million worth were sold and $4 million worth remained unsold at year end and were added to inventories, how much did Computers, Inc contribute to GDP in 2008?
a. $0 b. $4 million c. $12 million d. $16 million e. $20 million