The lowest wage that may be legally paid for an hour's work is called the
A. just wage.
B. minimum wage.
C. living wage.
D. maximum wage.
Answer: B
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In the simple deposit expansion model, a decline in checkable deposits of $500 when the required reserve ratio is equal to 20 percent implies that the Fed
A) sold $250 in government bonds. B) sold $100 in government bonds. C) sold $50 in government bonds. D) purchased $100 in government bonds.
The Malthusian prospect of starvation of the population could be prevented by: a. increasing the amount of land available for agriculture
b. investing in research and development of new technologies. c. expanding food production on available land. d. all of the above
Which program provides money and in-kind assistance to the poor?
a. supplementary security income b. earned-income tax credit c. income assistance programs d. Medicaid
Which of the following is a role of financial institutions?
a) Increasing product demand. b) Diversifying assets to reduce risk. c) Establishing marginal tax rates. d) Controlling inflation.