Minimum-wage laws are least likely to affect the wages paid to
a. teenagers.
b. low-skill workers.
c. inexperienced workers.
d. highly-educated workers.
d
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Which of the following is NOT a requirement in selecting a policy instrument?
A) measurability B) controllability C) flexibility D) predictability
Which of the following statements about agriculture in the U.S. is correct?
a. From the 1950s to today, agricultural output has approximately doubled. b. Because technological improvements increase the supply of a product for which demand is inelastic, an individual farmer would be better off not adopting the new technology. c. Increasing the supply of agricultural products typically benefits consumers but harms farmers. d. Technological improvements typically increase both supply and revenue for individual farmers.
If you had a marginal tax rate of 15 percent and earned an extra $10,000, how much tax would you pay?
What will be an ideal response?
Refer to the above figure. If the current level of real GDP is $13 trillion, then the economy is experiencing
A. a fiscal deficit gap. B. a deflationary gap. C. an inflationary gap. D. a recessionary gap.