Which of the following is the most likely result of an increase in the minimum wage?
a. an increase in the employment of unskilled workers
b. a decrease in the number of workers seeking minimum wage jobs
c. an increase in the demand for unskilled workers
d. a decrease in the employment of unskilled workers
D
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Changes in real planned investment spending have
A) an inverse relationship to changes in the interest rate. B) no identifiable relationship to changes in the interest rate. C) a direct relationship to changes in the level of household savings. D) a direct relationship to changes in interest rates.
Everything else held constant, if income tax rates were lowered, then
A) the interest rate on municipal bonds would fall. B) the interest rate on Treasury bonds would rise. C) the interest rate on municipal bonds would rise. D) the price of Treasury bonds would fall.
Opportunity cost is the value of the next best alternative to a given choice.
Answer the following statement true (T) or false (F)
Compared to other countries, the U.S. economy has the ____________ GDP in the world.
a. largest b. smallest c. flattest d. weakest