The additional taxes needed to pay the interest on the public debt reduce incentives to work, save, invest, and bear risks.
Answer the following statement true (T) or false (F)
True
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Minimum wages are:
A. not very controversial. B. always needed to guarantee workers an acceptable standard of living. C. a form of government interference in the free market. D. only enforceable at the federal level.
As a general rule, you would be unwise to keep a deposit at an FDIC-insured bank in an amount greater than
a. 20 percent of the bank's reserves. b. $1,000,000. c. $250,000. d. an infinite amount; there is no limit.
As a result of establishing a legal minimum wage above the market clearing wage
A) there will be a shortage of workers. B) firms will hire fewer workers. C) firms will hire more workers. D) fewer workers will want to work.
Evaluate the statement: “There is no difference between the labor supply curve for the single competitive firm and the supply curve in a competitive market for labor.”
What will be an ideal response?