If the minimum wage rate is set above the equilibrium wage rate, then
A) unemployment definitely increases.
B) unemployment definitely decreases.
C) unemployment either decreases or does not change.
D) unemployment definitely does not change.
E) None of the above answers is correct because the minimum wage decreases search but its effect on unemployment is ambiguous.
A
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a. Consumer Price Index b. Product Price Index c. Employment Cost Index d. Employment Price Index
If total production (TP) is greater than total expenditures (TE), it follows that
A) producers have produced more than individuals buy. B) optimum inventory levels rise. C) firms have underproduced. D) actual inventory levels unexpectedly rise. E) a and d
The market system has provided great advances in invention, innovation, and economic growth.
Answer the following statement true (T) or false (F)
Optimal market outcomes are the same as perfect market outcomes.
Answer the following statement true (T) or false (F)