How many people lost their jobs when the minimum wage increased from $12 to $18? labor supply
$18
minimum wage
Wages
$12
-equilibrium wage
1
labor demand
18 33 45
Number of workers
OA. 15
B.
18
OC.
33
OD. 45

Which economic system could be characterized by the "iron fist", meaning a central authority figure has control over most of the economy? market economy command economy traditional economy free enterprise economy

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

Use this image to answer the following question. when the economy is operating at point b, the us congress is most likely to follow