Explain whether each of the following statements is Always True, Sometimes True, or Never True. If sometimes true, explain the conditions in which it is true and false.
Explain whether each of the following statements is Always True, Sometimes
True, or Never True. If sometimes true, explain the conditions in which it is true and false.
A) The implementation of a minimum wage in the labor market will cause the firm to hire workers where wage>MRP of the worker.
B) Goods produced by the Government are Public goods.
C) If a country raises 10 million in taxes and spends 15 million in one year, and has a debt of 5 million at the end of the year, then it had zero debt at the start of the year.
D) Competitive markets will overproduce goods that have external marginal costs but no external marginal benefits
E) The Firms demand for labor will decrease when the price of another resource increases.
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