Refer to the figure above. If the government sets the minimum wage rate at $35, the unemployment in the market will be:
A) 20 units of labor. B) 25 units of labor. C) 15 units of labor. D) 10 units of labor.
A
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The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Over which price range is the elasticity of supply greater than 1?
A. $20 to $25 B. $10 to $15 C. $15 to $20 D. $25 to $30
An official measure of money in the United States is M1, which includes the sum of
A) checkable deposits plus small time deposits. B) currency plus checkable deposits. C) currency plus credit card transactions. D) currency plus traveler's checks plus time deposits. E) currency plus traveler's checks plus checkable deposits plus small time deposits plus money market funds and other deposits.
Which of the following can issue bonds?
A. the government B. corporations C. government agencies D. all of the above
If a poor family has three children in public school and a rich family has two children in private school, the ability-to-pay principle would suggest that
a. the poor family should pay more in taxes to pay for public education than the rich family. b. the rich family should pay more in taxes to pay for public education than the poor family. c. the benefits of private school exceed those of public school. d. public schools should be financed by property taxes.