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Economics
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What kind of effect would a national minimum wage have, is it positive or negative ?

A national minimum wage sets the minimum hourly wage rate that is acceptable by law. It is needed for a variety of reasons.

It has several advantages including reducing poverty and reducing gap bet...

Obianuju O. avatar
Answered by Obianuju O. Economics tutor
2649 Views

Discuss the effectiveness of fiscal policy to counter recession

Fiscal policy is the use of taxation and government spending to achieve macroeconomic objectives. Expansionary fiscal policies such as cuts in income tax will increase the disposable income of consumers, ...

Answered by Carlo V. Economics tutor
7007 Views

What is the demand curve?

The demand curve illustrates the relationship between the price of a good or service and the quantity demanded by consumers at any given price level. The demand curve has a negative gradient (downward slo...

Answered by Robert C. Economics tutor
2876 Views

What is supernormal profit?

When a firm is making a supernormal profit, this refers to a profit level at which new firms are willing to enter the market. This suggests that the firms currently in the market are making a profit level...

Answered by Chris B. Economics tutor
11528 Views

What's the difference between an elastic good and an inelastic good?

An elastic good is a good that has a price elasticity of demand that is greater than one. This means that the demand for the good will change significantly if the price changes. An example of such is coke...

Answered by Hana K. Economics tutor
23039 Views

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