Which of the following about minimum wage is true?
a. Most minimum wage workers are employed more than 40 hours per week.
b. Economic analysis indicates an increase in the minimum wage would increase the training opportunities available to inexperienced workers.
c. Most minimum wage workers are heads of families with incomes below the poverty level.
d. Most minimum wage workers are employed part-time, and they are often members of a household with an income well above the poverty level.
D
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A cost paid in money is
A) not an opportunity cost. B) an implicit cost and an opportunity cost. C) an explicit cost and an opportunity cost. D) not an accounting cost. E) an explicit cost but not an opportunity cost.
Congestion pricing
A) is an estimation of the price of being off of work with the flu. B) is an attempt to internalize the external costs of driving. C) is the raising of taxes on gasoline to support the construction of mass urban transit systems. D) works fine in theory but cannot work in the real world because the technology is lacking.
Regardless of their stance on Keynesian stimulus measures, most economic experts agree that the U.S. government could increase average incomes by:
A. dramatically increasing the real value of the federal minimum wage. B. spending more on roads, railways, bridges, and airports. C. building more prisons. D. raising taxes for households in the bottom 20 percent of the income distribution.
Have Malthus' predictions about population growth come TRUE?
A. yes, as evidenced by the famine and food shortages affecting every nation today B. Yes. The world's food supply, measured by calories per person, continues to fall. C. no, because modern birth control has limited population growth in all nations D. no, because the world's food supply has grown much more rapidly than Malthus foresaw