Total employment tends to decrease in response to any increase in the legal minimum wage because
A) employers can usually find substitutes for unskilled workers.
B) higher wages mean fewer family members will be forced to take jobs.
C) wages must be paid out of profits and profits are limited.
D) workers are often willing to trade jobs for income.
A
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Comparable worth aims at
A) increasing the earnings of the least-skilled workers in the labor force. B) raising the relative wages paid in jobs traditionally dominated by women. C) reducing the relative income shares going to property owners. D) securing equal wages for people performing identical jobs. E) securing equal wages for people performing identical jobs and performing equally well.
Economists view shifts of supply and demand as
a. unusual events that call for government intervention b. unusual events resulting from the failure of the price to fall c. normal and frequent events d. normal and frequents events that do not affect equilibrium prices e. normal and frequent events that result from government intervention
In the United States, control of the quantity of money is given to the:
A. Federal Reserve System. B. Department of the Treasury. C. Bureau of Printing and Engraving. D. President.
Explain how the prices of related goods also affect demand
Please provide the best answer for the statement.