Mark holds $100 in cash in his wallet to make purchases for gas and groceries. This represents the
A. Speculative demand for money.
B. Transactions demand for money.
C. Precautionary demand for money.
D. Market demand for money.
Answer: B
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The market for unskilled labor is illustrated in the figure above. The market is in equilibrium and then a minimum wage of $3 per hour is imposed. Employment will decrease by
A) 0 hours. B) 10 million hours per year. C) 20 million hours per year. D) 30 million hours per year.
"Cost disease" refers to the tendency for low productivity in the service sector to lead to higher costs in those industries
Indicate whether the statement is true or false
During an economic? expansion, we would normally expect the? employment-population ratio to increase as the unemployment rate falls because
What will be an ideal response?
In ________ markets, the elasticity of supply tends to be positive.
A. labor B. input C. all D. output