Which statement is true?
A. Virtually everyone agrees that the federal minimum wage rate should be raised.
B. Virtually everyone agrees that the federal minimum wage rate is currently too high.
C. Many people believe that the federal minimum wage rate is too high, while many others believe it is too low.
D. Most people agree that the federal minimum wage rate is just about at the right level.
C. Many people believe that the federal minimum wage rate is too high, while many others believe it is too low.
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The quantity theory of money assumes that
A) the velocity of money is constant. B) the velocity of money is negative. C) the velocity of money fluctuates unpredictably. D) the velocity of money is zero.
Affirmative action programs are intended to combat
a. poverty. b. economic inequality. c. discriminatory practices by employers. d. "comparable worth" systems of compensation.
If the marginal revenue of the next unit a firm produces is $50 and its marginal cost is $35, a firm should:
A. increase production. B. reconsider past production decisions. C. decrease production. D. hold production constant.
According to economic historians, one result of international trade is that it
A) aids in the international transmission of ideas. B) reduces the world-wide output of goods. C) reduces the world-wide consumption of goods. D) causes persistent world-wide inflation.