It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In the United States, the distribution of income after the income tax is ____ the distribution of income before the income tax.
A. slightly less equal than B. about as equal as C. slightly more equal than D. a great deal more equal than
Consider a consumer who spends all income on only two goods: bread and wine. An extra loaf of bread would give the consumer 10 extra util, while an extra bottle of wine would give the consumer 60 extra utils. Bread costs 50ยข per loaf, and wine costs $6 per bottle. In this situation, the consumer:
a. could increase utility by buying more bread and less wine. b. could increase utility by purchasing more wine and less bread. c. has maximized utility and attained consumer equilibrium. d. is violating the law of diminishing marginal utility.
If nations erect tariffs and quotas to restrict trade, what is likely to happen to predicted values of currencies drawn from the purchasing power parity theory?
A. They will be understated for tariffs and overstated for quotas. B. They will be overstated for tariffs and understated for quotas. C. They will be the correct values. D. They will be incorrect.
The device used by the BLS to adjust the market basket more frequently, while still retaining the ability to make inflation calculations, is
A. chain-based indexing. B. chain-mail indexing. C. envelop indexing. D. automatic indexing.