A minimum wage is a government-imposed price ________ that is designed to be ________ the equilibrium wage rate
A) ceiling; above
B) ceiling; below
C) floor; above
D) floor; below
C
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According to the ____ view, a nation’s wealth consists of the amount of gold or other monies at its command.
A. Keynesian B. free trade C. mercantilist D. monetarist
Economists before Keynes assumed that equilibrium GDP occurred
a. automatically. b. only with the help of government stabilization. c. if spending was generally greater than output. d. only in socialist economies with central planning.
Federal Reserve Notes held by the Fed are considered part of the
A) money supply. B) bank reserves. C) both of the above D) none of the above
For Joanna to be considered out of the labor force, she can be
A. self-employed. B. a full-time student. C. temporarily laid off. D. working only 10 hours per week.