Theory suggests that minimum-wage laws create ________ unemployment, especially among younger workers
A) frictional
B) cyclical
C) structural
D) under-reported
C
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Rapid growth in M2 is likely to lead to ________
A) low demand for labor B) high levels of inflation C) low levels of investment D) high real interest rates
The Medicare payroll tax is also called a _______________ tax, which is a flat percentage of all wages earned.
a. progressive b. regressive c. proportional d. marginal
Which of the following statements about the perfect competitor is INCORRECT?
A. The products made by a perfectly competitive firm have no close substitutes. B. If an individual firm raises price, it will lose business. C. The perfect competitor sells a homogeneous commodity. D. The perfectly competitive firm is always a price taker.
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is AD. If her income decreases, her new budget constraint is
A. EF. B. BD. C. CD. D. not shown on this graph.