The minimum wage is an example of
A) a subsidy for low-skilled workers.
B) a price floor.
C) a price ceiling.
D) a black market.
Answer: B
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Which of the following is NOT true about dead capital?
A) Companies will be less likely to want to invest when a country has a lot of dead capital. B) Dead capital can inhibit economic growth. C) Dead capital will lead to higher investment returns. D) Dead capital can lead to a situation where resources are not efficiently employed.
By the end of the colonial period, the Middle Colonies' population gained over New England but the Southern population continued to dominate
Indicate whether the statement is true or false
The likelihood of an individual's vote being significant in a Presidential election is fairly high, especially if they live in a swing state
a. True b. False
Gift shops in a small town sell identical mugs to tourists. However, tourists don't have enough time to check out the prices one by one and don't have brochures listing prices of mugs. We can conclude
A) the market for mugs is perfectly competitive. B) buyers have full information. C) sellers are price takers. D) the market is not perfectly competitive.