The minimum wage has never been sufficient to get a family of ________ above the poverty line.
A. one
B. four
C. two, three, or four
D. three or four
Answer: B
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Refer to Figure 4.1. The income effect of the price change in food on the quantity of food purchased is:
A) the change from F3 to F1. B) the change from F3 to F2. C) the change from F2 to F1. D) the change from F1 to F2. E) none of the above
The over hunting of U.S. buffalo that nearly caused their extinction would be an example of the tragedy of the commons
a. True b. False Indicate whether the statement is true or false
An American investor purchasing a Japanese government bond
a. creates a demand for dollars and a supply of yen in the foreign exchange market. b. creates a demand for yen and a supply of dollars in the foreign exchange market. c. causes the yen to depreciate. d. causes the dollar to appreciate.
Having MFN status means that the country is getting the most favorable trade terms possible with a trading partner
Indicate whether the statement is true or false