Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
trancy trancy
wrote...
Posts: 386
Rep: 0 0
4 years ago

Question 1.

Figure 4-5



Figure 4-5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of $1,000 per month.



Refer to Figure 4-5. With rent control, the quantity supplied is 200 apartments. Suppose apartment owners ignore the law and rent this quantity for the highest rent they can get. What is the highest rent they can get per month?



$1,000



$1,500



$2,000



$2,300



Question 2.

David Card and Alan Krueger conducted a study of fast-food restaurants in New Jersey and Pennsylvania. The study found that



increases in the minimum wage had a very small impact on employment.



there was a large reduction in employment of low-skilled workers when the minimum wage was raised in these states.



increases in the prices of food have a greater effect on wage increases in New Jersey than in Pennsylvania.



the earned income tax credit is more effective in raising the incomes of low-skilled workers than increases in the minimum wage.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
Read 50 times
2 Replies
Replies
Answer verified by a subject expert
abonaccorso1abonaccorso1
wrote...
Posts: 379
4 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

trancy Author
wrote...
4 years ago
Brilliant
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1109 People Browsing
Related Images
  
 46
  
 222
  
 2818
Your Opinion
Which 'study break' activity do you find most distracting?
Votes: 741

Previous poll results: Who's your favorite biologist?