A minimum wage law (that sets the minimum wage above the equilibrium wage) can be expected to
A) clear the market for unskilled workers.
B) increase the number of unskilled workers employed.
C) increase the number of firms in those industries where the law is effective.
D) reduce the number of unskilled workers employed and/or reduce the number of hours worked by unskilled workers.
E) all of the above
D
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The time-inconsistency problem with monetary policy tells us that, if policymakers use discretionary policy, there is a higher probability that the ________ will be higher, compared to policy makers following a behavior rule
A) inflation rate B) unemployment rate C) interest rate D) foreign exchange rate
A mutual life insurance company is owned and controlled by its
A) partners. B) managers. C) stockholders. D) policyholders.
The potential harm one person might do to another person through accidental, negligent, or purposeful injury is
A. always reflected in equilibrium prices in perfectly competitive markets. B. always central to the concept of 'civil liability'. C. easily incorporated into private contracts between willing buyers and sellers. D. always neglected in equilibrium prices in perfectly competitive markets.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C