Recent research suggests that the federal minimum wage law
a. clearly causes significant unemployment.
b. causes unemployment for teenagers.
c. causes unemployment for high wage workers.
d. may not cause much, if any, unemployment.
d
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In a market system, resources are allocated by
a. the orders of authority b. traditional practices c. prices d. absolute advantage e. production possibilities frontiers
When Dr. Katy Stack treats a military veteran at a veterans' administration hospital, the money she receives is part of the _________ category(ies) of government spending
a. educational b. veterans' benefits c. public assistance d. international aid e. income support, Social Security, and welfare
When there is a foreign monopoly exporting to the home nation, under free trade it will sell a quantity where the home ______ is just equal to the foreign ______.
a. MC; MR b. supply; demand c. demand; supply d. MR; MC
If getting accepted into college is very difficult because of high standards of intelligence and ability, but students learn absolutely nothing while in college, it is most likely that
A) they will not be hired upon graduation. B) attendance sends a signal to employers regarding ability. C) nobody will want to go to college. D) a college degree is not a credible signal.