A good that is expected to last less than one year is a
a. durable good
b. service
c. nondurable good
d. short-term good
e. perishable good
C
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The labor demand and labor supply schedules are given in the table above. If a minimum wage of $11 per hour is imposed,
A) a surplus of 300 workers occurs. B) there is no shortage or surplus of workers. C) 900 workers are employed. D) Both answers B and C are correct. E) Both answers A and C are correct.
The federal agency established in 1934 to regulate telephones and broadcasting industries is the:
a. Interstate Commerce Commission (ICC). b. Federal Trade Commission (FTC). c. Securities and Exchange Commission (SEC). d. Equal Employment Opportunity Commission (EEOC). e. Federal Communications Commission (FCC).
Which of the following statements is true of wages, educational attainment, and gender?
a. Male workers are compensated for attending college, while female workers generally are not. b. Female workers are compensated for attending college, while male workers generally are not. c. Both genders receive a higher wage for attending college. d. Neither gender receives a higher wage for attending college.
To reduce the chance of investigations and orders to cease production, businesses should
A. adhere to government regulations. B. specialize. C. purchase the most up-to-date technology available. D. lobby members of Congress.