A reduction in the minimum wage will tend to cause which of the following?
A) an upward shift in the WS curve
B) a downward shift in the WS curve
C) an upward shift in the PS curve
D) a downward shift in the PS curve
E) none of the above
B
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Refer to Figure 1A.1. If the hours worked per week are 20, the income per week is
A) 50. B) 100. C) 150. D) 200.
The standard way to measure the effects of debt in an economy is to look at the stock of debt relative to
A) the total budget. B) GDP. C) total government spending. D) federal tax revenue.
A change in the reserve requirement is used infrequently by the Fed because it
A) does not affect bank reserves. B) does not influence the money supply. C) is disruptive to the banking system. D) does not affect the money multiplier.
A bank has a 5 percent reserve requirement, $5,000 in deposits, and has loaned out all it can given the reserve requirement
a. It has $25 in reserves and $4,975 in loans. b. It has $250 in reserves and $4,750 in loans. c. It has $1,000 in reserves and $4,000 in loans. d. None of the above is correct.