Which of the following individuals would most likely be helped by a price floor?
a. a major league baseball player seeking a new contract
b. a lawyer earning enough to pay for his daughter’s college tuition
c. a business person seeking a significant raise
d. a teenager looking for a minimum-wage summer job
d. a teenager looking for a minimum-wage summer job
You might also like to view...
Types of price discrimination practiced by post-bellum railroads included all of the following except:
a. varied rates based on passengers' gender. b. varied rates based on town of origin. c. higher rates per mile for short-hauls than for long-hauls.d varied rates based on passengers' occupation .
Diminishing marginal utility means that as you consume more of a good, other things constant, the:
a. total satisfaction you obtain from consuming this good falls. b. total amount produced falls. c. marginal product falls. d. additional satisfaction you obtain from each additional unit of the good falls. e. total satisfaction you obtain from each extra good becomes constant.
The elasticity formula solves the units problem because percentages are unaffected by the units of measure
a. True b. False Indicate whether the statement is true or false
Which of the following effects will not increase (i.e., shift to the right) the aggregate supply curve?
a. An appreciation of the domestic currency. b. An increase in the number of immigrants. c. An increase in the price of fuel. d. None of these answers is correct.