A tax that is based on the value of a good or service is an excise tax
a. True b. False
b
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A minimum wage set above the market equilibrium wage rate ______
A. increases both employment and the quantity of labor supplied B. decreases unemployment and raises the wage rate of those employed C. raises the wage rate of those employed and increases the supply of jobs D. increases unemployment and decreases employment
As firms control more of an industry, it becomes more likely they can raise prices and harm consumers.
a. true b. false
Portfolio investment means buying
A. less than 10 percent of stock shares of of a foreign company. B. bonds through a financial company. C. more than 50 percent of stock shares of a foreign company. D. a combination of different companies' stock shares.
The official unemployment statistics may exaggerate the significance of unemployment by including the
A. Phantom unemployed. B. High school dropout. C. Discouraged worker. D. Underemployed.