Advocates of the minimum wage
a. deny that the minimum wage produces any adverse effects.
b. emphasize the benefits to teenagers of increases in the minimum wage.
c. emphasize the low annual incomes of those who work for the minimum wage.
d. All of the above are correct.
c
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The EMU created a currency area with more than
A) 200 million consumers. B) 250 million consumers. C) about a billion. D) 500 million consumers. E) 300 million consumers.
When money is used as a means to hold wealth, it serves as a:
A. double coincidence of wants. B. store of value. C. unit of account. D. medium of exchange.
Purchasing power parity is criticized because it:
A. includes the trade in assets. B. uses the wrong basket of goods to compute purchasing power parity exchange rates. C. does not account for trade in assets. D. does not apply when exchange rates are flexible.
Most of the world's nations
A. have transitioned from the Global South to the Global North. B. belong to the developed world. C. belong to the developing world. D. have transitioned from the Global North to the Global South.