If the legal minimum wage rate were set at $15/hour,
A. employment would decline substantially.
B. employment would decline slightly.
C. employment would not be affected.
D. employment would rise slightly.
A. employment would decline substantially.
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Suppose the marginal value of bread in terms of wine is 1/2 bottle of wine per loaf of bread, while the relative price of bread in terms of wine is 1/4 bottle of wine per loaf of bread. Explain how the consumer can adjust his purchases to raise his level of satisfaction.
What will be an ideal response?
The prices of most services have risen much faster than inflation in recent years because
A. wages and salaries of service providers have risen much faster than inflation. B. wages and salaries of service providers have risen, but their productivity has not. C. the productivity of service providers has risen dramatically. D. the demand for services has risen.
Price discrimination that substantially lessens competition is prohibited by the Clayton Act
a. True b. False Indicate whether the statement is true or false
The Fed controls the money supply to achieve the policy goals set by the United States International Trade Commission
a. True b. False Indicate whether the statement is true or false