When the minimum wage is raised, the ________ union labor ________
A) demand for; increases
B) demand for; decreases
C) supply of; increases
D) supply of; decreases
E) demand for; does not change
A
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Which of the four government policies to stimulate saving is essential? That is, which policy can on its own, regardless of the other policies, determine the level of the national saving rate?
What will be an ideal response?
A fiscal stimulus was initiated by President Obama in response to the economic downturn of 2008-2009 . At that time, the president's economists estimated the multiplier to be
a. 3.2 for government purchases and 2.0 for tax cuts. b. 2.4 for government purchases and 1.4 for tax cuts. c. 1.6 for government purchases and 1.0 for tax cuts. d. 1.6 for government purchases and 0.4 for tax cuts.
Large, advanced economies like the United States, Japan, and the euro area generally:
A. give exclusive control of exchange rates to their respective central banks. B. allow supply and demand to determine exchange rates. C. use fixed exchange rates to promote stability. D. allow their respective Treasuries to determine the exchange rates.
The minimum acceptable price for a product that producer Sam is willing to receive is $15. The price he could get for the product in the market is $18. How much is Sam's producer surplus?
A. $3 B. $33 C. $45 D. $270