In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of $6 per hour will initially
A) increase employment from 20 to 40 million hours per year.
B) increase employment from 30 to 40 million hours per year.
C) decrease employment from 40 to 20 million hours per year.
D) decrease employment from 30 to 20 million hours per year.
D
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Refer to the table above. The government sector balance is a
A) $900 billion surplus. B) $500 billion deficit. C) $2,900 billion trade deficit. D) $2,900 billion balanced budget. E) $900 billion deficit.
The competitive firm's supply curve is equal to
A) its marginal cost curve. B) the portion of its marginal cost curve that lies above AC. C) the portion of its marginal cost curve that lies above AVC. D) the portion of its marginal cost curve that lies above AFC.
Fractional reserve banking refers to a banking system in which
A) bank deposits are less than bank reserves. B) bank reserves are only a fraction of total deposits. C) bank reserves are only a fraction of required reserves. D) bank loans are less than bank reserves.
The velocity of money is the total number of times per year that a dollar is used to purchase final goods and services
Indicate whether the statement is true or false