Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Both the Bush and Obama administrations used tax cuts as a remedy to the housing “bubble.”
Answer the following statement true (T) or false (F)
Economics
Refer to the accompanying figure.
Suppose Zeynep's budget constraint is initially given by BC1. If her budget constraint shifts to BC2, this could be the result of:
A. a decrease in the price of cheese sandwiches and an increase in the price of ham sandwiches. B. a decrease in the price of cheese sandwiches and an increase in income. C. an increase in the price of cheese sandwiches and a decrease in income. D. an increase in the price of cheese sandwiches and a decrease in the price of ham sandwiches.
Economics