All perfectly competitive fast-food firms are hiring the profit-maximizing quantity of labor and are paying their workers $7 per hour. If the government raises the minimum wage to $8 per hour: a. the value of the marginal product will exceed the wage, and firms will hire more workers.
b. the value of the marginal product will be less than the wage, and firms will lay off some workers.
c. firms will increase their prices to keep the value of the marginal product equal to the wage.
d. firms will have to exit the industry, since the value of the marginal product is always less than the wage.

Achecklists should be based on past

There are three factors that can affect the shape of the treasury yield curve (r* t , ip t , and mrp t ) and five factors that can affect the shape of the corporate yield curve (r* t , ip t , mrp t , drp t , and lp t ). the yield curve reflects the aggregation of the impacts from these factors. suppose the real risk-free rate and inflation rate are expected to remain at their current levels throughout the foreseeable future. consider all factors that affect the yield curve. then identify which of the following shapes that the us treasury yield curve can take. check all that apply. a. downward-sloping yield curveb. upward-sloping yield curvec. inverted yield curve

If springfield is operating at full employment who is working a. everyone b. about 96% of the workforce c. the entire work force d. the robots