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Recently, the Governor of California signed a bill that would raise the minimum wage to $15.00 per hour by the year 2022. The following article depicts the new law: https://www.marketwatch.com/story/california-new-york-pass-15-minimum-wage-laws-2016-04-01 .
Demonstrate with an illustrative graph (no numbers) the likely impacts on supply, demand, and availability of labor in the California marketplace.
Demonstrate what will likely happen to the supply curve for employers of minimum-wage workers, such as fast-food and agricultural firms.
Explain what the affected employers might do to address the likely higher costs for producing fast food, agricultural products, and retail services.
Automobile Insurance Antonio Munoz and Jacinto Segura won some money from two unidentified men in a craps game in a Los Angeles park. When Munoz and Segura left the park in Segura’s car, the two men followed them in another car. What is the Rule, App..
Which of the follow is a characteristic of a command system?
What is the theoretical justification for a so-called Laffer curve? Based on the empirical evidence described in the text, should the U.S. raise or lower its tax rates in order to increase tax revenues? Explain.
There exists a debate among monetary policymakers as to the appropriate inflation measure that should be used to guide policies. Four alternatives are the consumer price index, the consumer price index excluding food and energy prices, the personal c..
Explain terrorist attacks foster instability and may affect productivity over the short and long term.
Suppose Ecuador and Hongkong negotiate a voluntary export agreement in which Hongkong imposes on its exporters a quota that limits shipments to Ecuador to 40 computers Assume Taiwan does not tske advantage of this situation by exporting computers to ..
A competitive firms production function is f(L, K) =min{K, L} (i) Find the conditional demand functions for both inputs through cost minimization (ii) Find the total cost function, average cost function and marginal cost function.
What are above average returns? How does firm competitive advantage influence the nature of returns?
The Energizer Bunny that "keeps on going and going" has been a very successful ad campaign for batteries. Explain the relationship between this slogan and the firm's price elasticity of demand and total revenue
Assume that in your first job after graduating from college you live in a city where the price of food is PF and the price of housing is PH. You consume F1 of food and H1 of housing per year. Using both your graph and a written explanation describe h..
Write instructions to add two unsigned numbers 3FH and 47H and save the result in data register REG3 (ADRESS 03H). Identify the status of Z and C flags.
Discuss examples from economic theory that would be estimated using the methods of simultaneous equation models
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