Refer to the graph below. A minimum wage in this labor market would
a. cause some layoffs as the quantity demanded for workers falls.
b. create some unemployment as a result of an increase in the quantity supplied of labor looking for a job.
c. create a surplus of labor in this market.
d. All of the above.
d. All of the above.
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When a nation starts importing a good or service, domestic employment in that industry
A) decreases. B) stays the same. C) increases. D) might change, but more information about what else the country imports is needed to determine if employment increases, decreases, or does not change. E) might change, but more information about what the country exports is needed to determine if employment increases, decreases, or does not change.
In 2008 if the poverty line had been set higher, the poverty rate would have been _______.
Fill in the blank(s) with the appropriate word(s).
If the price of a complement for tires decreases, all else equal,
A. demand for tires will decrease. B. demand for tires will increase. C. quantity demanded for tires will decrease. D. quantity supplied for tires will decrease. E. supply for tires will increase.
According to Keynes, the most important determinant of the level of investment was the ______________.
Fill in the blank(s) with the appropriate word(s).