Minimum-wage laws are one reason there is always some unemployment in the U.S. economy
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
When there is a current account deficit and the official settlements account equals 0, then
A) exports exceed imports for the country. B) the country is an exporter of capital. C) the capital and financial account has a surplus. D) the country has a budget surplus.
When oranges increase in price, the income effect
A) decreases the consumption of oranges only if oranges are a normal good. B) decreases the consumption of oranges only if oranges are an inferior good. C) always increases the consumption of oranges. D) always decreases the consumption of oranges.
By how much does the real, bilateral exchange rate change when the nominal, bilateral exchange rate changes from $1.10/€ to $1.00/€, the U.S. tradable basket from $500 to $600 and the Euro-Area tradable basket from €550 to €580?
a. The real exchange rate rises approximately by 18%. b. The real exchange rate falls approximately by 3% c. The real exchange rate rises approximately by 3% d. The real exchange rate falls approximately by 20% e. The real exchange rate falls approximately by 18%
Refer to the graph shown. Areas C and D represent:
A. the loss of surplus by producers resulting from a monopoly. B. consumer surplus redistributed to the monopolist. C. the cost to society of increasing output from Qm to Qc. D. the loss of surplus by consumers resulting from a monopoly.