Unions support minimum wage laws because an increase in the minimum wage
A) increases the supply of union labor.
B) decreases the supply of union labor.
C) increases the demand for union labor.
D) decreases the demand for union labor.
C
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A firm uses two inputs, A and B. At its optimal choice of input proportions,
A. MRP of A = MRP of B. B. MRPA/PA= MRPB/PB. C. MPP of A = MPP of B. D. All of the responses are correct.
Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If the price of burger increases, which of the following bundles are in Max's opportunity set?
A) b, d, e B) d, e C) a, b, c, d, e D) None of the labeled points are in Max's opportunity set.
Gdp:
a. is the dollar value of all the final goods and services produced within the borders of a nation. b. includes intermediate and final goods and services. c. minus an allowance for depreciation of fixed capital equals GNP. d. is a less-than-perfect measure of social well-being because it does not include exports and imports. e. all of these.
When did the three longest trough-to-peak expansions of the twentieth century occur?
a. between 1900 and 1930 b. between 1930 and 1960 c. since 1960 d. since 1980