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In the labor market, what causes a movement along the demand curve? What causes a shift in the demand curve?
Why is a living wage considered a price floor? Does imposing a living wage have the same outcome as a minimum wage?
In the financial market, what causes a movement along the supply curve? What causes a shift in the supply curve?
Which of the following changes in the financial market will lead to a decline in interest rates:a. a rise in demandb. a fall in demandc. a rise in supplyd. a fall in supply
Identify the most accurate statement. A price floor will have the largest effect if it is set:a. substantially above the equilibrium priceb. slightly above the equilibrium pricec. slightly below the equilibrium priced. substantially below the equilibrium price
Select the correct answer. A price floor will usually shift:a. demandb. supplyc. bothd. neitherIllustrate your answer with a diagram.
