If the labor market worked efficiently, then an effective minimum wage law would:
A. cause unemployment.
B. hold wages higher than the equilibrium price.
C. help those who were employed at that price.
D. All of these statements are true.
D. All of these statements are true.
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The required reserve ratio is 20 percent and banks have no excess reserves. Katie deposits $300 in her bank. What are the bank's excess reserves immediately after Katie makes her deposit?
A) $30 B) $90 C) $240 D) $60 E) $300
Investment is financed by which of the following?
I. Government spending II. National saving III. Borrowing from the rest of the world A) I, II, and III B) I and II only C) I and III only D) II and III only
A market with the characteristics of many firms selling an identical product, many buyers, and no restrictions on entry or exit to the market is
A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.
Antitrust laws in the United States
A. are an attempt to foster competition. B. have not been used in the past twenty-five years. C. are not necessary in the twenty-first century. D. are the same as the laws in the European Union.