A decrease in the current minimum wage would:
a. decrease employment for low skill workers
b. increase firm's demand curves for low skill workers.
c. increase the supply of low skill workers.
d. decrease the incomes of some low skill workers.
d
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All of the following are listed in the text as being keys to economic development EXCEPT
A) a system of property rights. B) an open economy. C) an educated population. D) a higher level of protectionism.
If a multinational is controlling funds, it will expect a subsidiary to remit a ________ portion of their earnings if this subsidiary has the opportunity to reinvest its earnings profitably
A) significant B) substantial C) smaller D) larger
Like the supply curve for individual goods and services, the aggregate supply curve slopes upward and to the right.
Answer the following statement true (T) or false (F)
In the circular-flow diagram, factors of production are the goods and services produced by firms
a. True b. False Indicate whether the statement is true or false