The minimum wage laws seek to
A) penalize employers that are not complying with labor laws.
B) assure a minimum standard of payment for work.
C) assure that all workers are paid the same wage rate.
D) help teenagers find work.
Answer: B
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Explain why the expenditure multiplier is greater than 1
What will be an ideal response?
An example of an equity asset is:
A. a stock. B. a dividend. C. an intermediary. D. a cash deposit.
Which of the following are time lags that fiscal policymakers must cope with?
A. effect lags B. recognition lags C. action lags D. all of these