Critics argue that a disadvantage of minimum-wage laws is that they do not effectively target the working poor because many minimum-wage workers are the teenage children of middle-income families
a. True
b. False
Indicate whether the statement is true or false
True
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If the U.S. population grew at a 0.9 percent during 2006 and real GDP grew at a 4.4 percent during the same period, what was the growth rate of real GDP per person?
A) 1.6 percent. B) 7.75 percent. C) 3.5 percent. D) 6 percent. E) 0 percent.
The growing popularity of energy conservation has enticed large home improvement stores like Home Depot and Lowes to offer tankless water heaters
How does the fact that home improvement stores now offer these products affect the tankless water heater market? A) The demand curve for tankless water heaters shifts to the left. B) The supply curve for tankless water heaters shifts to the left. C) The supply curve for tankless water heaters shifts to the right. D) The demand curve for tankless water heaters shifts to the right.
If you produce a graph with consumption spending on the vertical axis and disposable income on the horizontal axis, the relation between consumption and income will
a. be inverse. b. be transcendental. c. shift unpredictably. d. be direct.
What was the per capital income level for the United States in 2011?
a. $28,100 b. $38,100 c. $48,100 d. $58,000