Category: Economics

Question 1
If the market equilibrium is at price =$11 /hour, and the governmentimposes a minimum wage of $14, we will have a?
Surplus
Shortage
Both Shortage and Surplus
Neither Shortage nor Surplus

The basis for free trade is the concept ofQuestion 14 options:
A) differences in natural resources and climate.
B) comparative advantage.
C) differences in nominal wages.
D) absolute advantage.

Question 1When there is a shortage in a market,there is downward pressure on price.there is upward pressure on price.the market could still be in equilibrium.the price must be above equilibrium.

Since the stock market collapse of 2008 , how has the proportion of U.S. households that own stocks changed?
declined very slightly
increased dramatically
increased slightly
declined significantly

Question 7 q, is the amount of money remaining from a firm’s sales revenue after it deducts production costs, interest costs, and taxes.ProfitA dividendWorking capitalNet salesRetained earnings

In a command system, who is responsible for determining production goals for each enterprise?
The business owners
Investors in the market
Consumers through their purchases
The central planning board