Some economists argue that the minimum wage:
A. drives some labor to occur "under the table."
B. causes some employers to hire undocumented migrants driving up wages overall.
C. leads some employers to pay workers cash and then report these payments to the government.
D. All of these are true.
A. drives some labor to occur "under the table."
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Use the following graph to answer the next question.
In the diagram, Qf is the full-employment output. An expansionary fiscal policy would be most appropriate and needed if the economy's present aggregate demand curve were at
A. AD0. B. AD1. C. AD2. D. AD3.
Which of the following statements is true of minimum wages?
A) Minimum wages are sometimes referred to as wage ceilings. B) No state in the U.S. economy has ever enforced a minimum wage. C) Minimum wages are normally set above the labor market clearing wage rate. D) Minimum wages benefit firms and producers.
In the above figure, the distance between points T and U represents
A) an expansion. B) a trough. C) a peak. D) a recession.
There are fewest problems in distinguishing between which two market structures?
a. oligopoly and monopolistic competition b. monopolistic competition and perfect competition c. monopoly and perfect competition d. oligopoly and monopoly e. oligopoly and perfect competition