The U.S. government enacted minimum wage legislation to protect skilled workers.
Answer the following statement true (T) or false (F)
False
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If we want to use a measure of inflation that foreshadows price changes before they affect prices at the retail level, we would base our measure of inflation on
A) the household price index. B) the GDP deflator. C) the producer price index. D) the consumer price index.
With floating exchange rates, BOP equilibrium is restored by
A) trade restrictions. B) earnings from foreign investments. C) exchange rate changes. D) All of the above.
Under a fixed exchange rate system, at high domestic real interest rates net capital outflows are ________, so the central bank ________ foreign-exchange reserves
A) positive; acquires B) positive; loses C) negative; acquires D) negative; loses
Which of the following is true for the period from Independence to 1860?
(a) The system of indentured servitude died out because it was seen to be immoral and inconsistent with the Constitution. (b) The system of slavery flourished because the relative price of slaves fell consistently. (c) The system of wage labor flourished as immigrant labor poured into the newly opened western lands. (d) European immigrants typically shunned agricultural labor as their ticket to the good life.