A minimum wage law dictates
A) the minimum quantity of labor that a firm must employ.
B) the lowest wage that firms may pay for labor.
C) the highest wage that firms must pay for labor.
D) the minimum qualifications for labor.
Answer: B
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A computer software program is most strongly an example of
A) real property. B) fiat property. C) intellectual property. D) vicarious property.
Based on the graph showing the run-up of nominal home prices, if a person had wanted to buy a house, hold it for one year, and then sell it for a profit, which of the following years would have been the worst to make the purchase in?
a. 1922
b. 1966
c. 1992
d. 2006
A recessionary gap means that short-run macroeconomics equilibrium GDP...
What will be an ideal response?
Refer to the above figure. For which Lorenz curve does the richest 25 percent make 50 percent of the nation's money income?
A. A B. B C. C D. D