A minimum wage law prohibits employers from paying workers less than a specified hourly wage. If the minimum wage is above the equilibrium wage:
A. there will be an excess demand for labor.
B. there will be an excess supply of labor.
C. employment levels will not fall.
D. it creates a price ceiling.
Answer: B
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The two reasons a nation like Alphonia would dump products in another nation are
A) import licensing and outsourcing. B) price discrimination and import licensing. C) price discrimination and predatory pricing. D) outsourcing and predatory pricing.
The above figures show the market for gasoline. Which figure shows the effect of the end of a nine month strike by workers at all U.S. oil refineries?
A) Figure A B) Figure B C) Figure C D) Figure D
List five factors that will cause the MP curve to shift. Explain what needs to happen to each of these factors to cause the MP curve to shift upward and to shift downward
What will be an ideal response?
Which of the following names is given to the corporate bonds that carry the maximum risk?
a. Risky-time bonds b. Failure bonds c. Revelation bonds d. Blue-chip bonds e. Junk bonds