In the above figure, if the minimum wage is set at $8 per hour, the level of unemployment is ________ hours per week is
A) 40 million
B) 30 million
C) 20 million
D) 0
C
You might also like to view...
If a pair-wise majority vote was held and the voters' preferences are in the given table, which option would win the first round of voting?
A. Public transportation
B. Public zoo
C. Public parks
D. It depends on which pair was considered first.
Relative to a situation where only a single price is charged, a seller that engages in price discrimination will
a. charge consumers with an inelastic demand a lower price. b. charge consumers with an elastic demand a higher price. c. generally produce a larger total output. d. decrease social welfare and make all consumers worse off.
Which of the following will most likely occur during the contractionary phase of a business cycle?
What will be an ideal response?
Which of the diagrams illustrate(s) the effect of a decrease in incomes on the market for secondhand clothing?
A. A and C.
B. A only.
C. B only.
D. C only.