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In article 2.6 in Dollars & Sense, current research reveals that minimum wage is not set too high! In keeping with your reading of Mankiw's ch. 6, what does this mean in terms of minimum wage being a price floor? Is our current Washington State minimum wage ( $9:32/hr as of January 2014) a binding price floor? What effect does the minimum wage have on unemployment? Use the arguments in the article along with the model laid out in your textbook to help you answer the question. Give an example of a price floor (aside from minimum wage) that has an effect on a group of people. Should the price floor be maintained? Why or why not?
From 1970 to 2000, the supply of college graduates to the labor market increased dramatically, while the supply of high school (no college) graduates shrank. At the same time, the average real wage of high school graduates fell.
the demand for a pack of 12 golf balls in albuquerque is p1000-.1q with supply p30. the demand for golf clubs is
an electric holding company is interested in the possible acquisition of other electricity retailers expected to be
briefly sketch the plot of a disaster movie in which an electromagnetic pulse caused the shutdown of all electronic
7, recent tax reforms make college tuition partially tax deductible for certain families. this should motivate more people to attend college. how will this higher demand for college education affect tuition prices how will it affect the cost of co..
Allen and Aimee put $70,000 of their own money into the firm
a florist earns a profit of 2.00 on each bunch of carnations 3.00 on each bunch of lilies and 1.00 on a bunch of roses.
Suppose there is a tax cut, holding constant government purchases and all other factors affecting the AD curve. Illustrate the short run effects on output and the price level and LABEL them.
Assume that the government imposes a $20 minimum wage. Find the new quantity of labor demanded and supplied.
A Federal Reserve Bank has employed the economic consulting company to make a paper on how the use of money has changed over the past twenty years.
Would you expect the price elasticity of demand to be higher at the level of an individual school (e.g., Baker) or at the aggregate level
1. suppose that ambers demand for gasoline is given by g 1000 - 200pg where g stands for gallons of gas and pg
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