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A common argument in favor of minimum wage laws is that they are necessary to prevent employers from taking unfair advantage of their employees. What is the flaw of this argument? Please include a example.
What specific economic policies would you propose to accomplish these goals? What do you believe would be the short- and long-term effects of your policies on both inflation and unemployment rates? Provide justification and examples to support you..
Illustrate the potential problems of economic transition from a planned economy to a competitive free-market economy.
Key sets of labor market information include the monthly employment and unemployment numbers. The Current Population Survey (CPS) produces employment and unemployment statistics for the United States. All adult respondents are classified as employ..
where L1 is the number of workers employed in Sector 1 and L2 is the number of workers employed in Sector 2. The total number of workers in the economy is 1,000. The only difference between the sectors is that in Sector 1 workers are paid their ma..
Totally he received an offer for $66000. What is your opinion of the owner's decisions
Given the above information write an equation for the market supply curve. Explain how you found this equation.
Macroeconomic analysis deals with the crucial issue of government involvement in the operation of "free market economy." The Keynesian model suggests that it is the responsibility of the government to help to stabilize the economy. Stabilization poli..
If the price of labor increases from $40 per unit to $60 per unit, what happens to the total cost of producing 500 units of output in the short run (up or down, and by how much) What happens to the short run marginal cost
What would happen if the tax was paid once only instead and describe the effect of the introduction
Suppose that society decided to reduce consumption and increase investment. A) how would this change affect economic growth B) what groups in society would benefit from this change What groups might be hurt
Article: Why you should worry about big oil. The oil industry is in the business of extracting and selling oil. It is the goal of the oil companies to do this as efficiently as possible.
The poorest countries in the world have a per capita income of about $600 today. We can reasonably assume that it is nearly impossible to live on an income below half this level (below $300)
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