The last time Congress raised the U.S. minimum wage was in the year _______.
A. 1988
B. 1991
C. 1994
D. 2007
D. 2007
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The federal government collects taxes on
A. real capital gains. B. nominal capital gains. C. real capital losses. D. nominal capital losses.
If a marginal cost pricing rule is imposed on the natural monopoly in the figure above, then the consumer surplus will be
A) $0. B) $8 million. C) $16 million. D) $32 million.
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, what is Always There Wireless's total profit?
A. $11,200 B. $13,200 D. $12,700
The balance of payments is
a. the equilibrium result when two countries achieve purchasing power parity. b. an account that records changes in exchange rates between two countries. c. an account that records all economic transactions between a country and all other countries, usually within a year. d. all of the above. e. none of the above.