In the above figure, if the minimum wage is set at $6 per hour, the level of unemployment is ________ hours per week is
A) 40 million
B) 30 million
C) 20 million
D) 0
D
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The credit demand curve is the schedule that reports the relationship between the quantity of credit demanded and ________ in an economy, assuming all else equal
A) the average tax rate B) the annual inflation rate C) the nominal rate of interest D) the real rate of interest
Over the period 1960-2010, the United States economy grew at roughly
A) 2.1 percent. B) 3 percent. C) 4 percent. D) one percent. E) 3.5 percent.
The quantity equation is always true because it:
A. has been empirically tested. B. is a law of economics. C. is the definition of velocity rewritten. D. has been historically verified.
Fans who purchase their tickets from ticket scalpers are likely to
A. have many other uses of their time that they consider to be close substitutes for the event. B. be much less wealthy than typical fans. C. have had much less time to plan their attendance than typical fans. D. all of the options are correct.