If 8,000 workers are unemployed, then the minimum wage must be
a. $8
b. $12.
c. $6
d. $14.
Answer: d. $14.
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Studies indicate that a lack of skill transferability in the U.S. has a particularly large effect on the earnings of:
A. Domestic workers with low levels of human capital B. First-generation immigrants C. Immigrants who lack English-language skills D. Highly-educated domestic workers
The price of soft drinks increases. Which of the following is not part of the likely chain of events that follows from this price change?
A. The demand for fruit juices increases. B. The manufacturers of soda?canning machines lay off some workers. C. Producers of soft drinks increase their production of soft drinks. D. Some consumers of soft drinks reduce their consumption of soft drinks.
How does a decrease in the federal budget deficit affect the demand for dollars and the supply of dollars on the foreign exchange market?
A) The demand for dollars falls, and the supply of dollars falls. B) The demand for dollars rises, and the supply of dollars falls. C) The demand for dollars rises, and the supply of dollars rises. D) The demand for dollars falls, and the supply of dollars rises.
In the monetarist view, if the money supply has been rising too quickly for years, the resulting inflation can be brought under control by slowing money growth. This will
a. quickly reduce inflation with no side effects. b. quickly reduce inflation with higher unemployment. c. increase unemployment depending upon how quickly the public changes their expected price level. d. slowly reduce inflation with higher unemployment. e. both c and d.