If you overheard a worker say that she has moved up the ladder as far as she can with her current employer and she is going to take the job because they will continue making payments into her 401K, you can be pretty sure she is
A. being exempted from Social Security.
B. on a defined contribution program.
C. on a defined benefit pension program.
D. trapped in a Ponzi scheme.
Answer: B
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Suppose the equilibrium wage is $10 per hour. A minimum wage is a ________ and affects employment if it is set at ________
A) price floor; $12 per hour B) price floor; $8 per hour C) price ceiling; $10 per hour D) price ceiling; $12 per hour
Which of the following examples would an economist concerned about individual freedom and liberty most likely support?
a. increasing government oversight of education b. hiring more government employees c. more government involvement in the environment d. less government involvement in business
Which of the following is true of a higher price level?
What will be an ideal response?
When comparing the U.S. and Mexican car assembly industries, the disadvantage of higher U.S. wages is offset by
A) Mexican trade barriers. B) trade adjustment assistance in the United States. C) higher productivity in the United States. D) a lower opportunity cost in Mexico.