Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the following graph. Which of the following reflects government expansionary fiscal or monetary policy which would fail to increase real income?
a. An increase in aggregate demand from AD1 to AD2.
b. An increase in aggregate demand from AD2 to AD3.
c. An increase in aggregate demand from AD3 to AD4.
d. An increase in aggregate demand from AD4 to AD5.
Which of the following is an incorrect statement? a. An economy with many unemployed workers and idle factories is not operating efficiently. b. Idle factories represent unemployed capital resources
c. A large amount of unemployed resources will shift the production possibilities curve outward. d. Idle farms represent unemployed land resources.
A firm's demand for labor depends only on the price of labor
Indicate whether the statement is true or false
Investments that are mistakenly made and generate losses
a. will occur when future revenues are known with certainty. b. indicate that the capital market is incapable of generating wealth. c. are normal costs of developing new projects and technologies in a world of uncertainty. d. will not occur when capital markets are operating efficiently.