An increase in the minimum wage will have a large effect on the number of workers employed in minimum wage occupations if:
A. demand for workers is elastic.
B. demand for workers is inelastic.
C. supply of workers is elastic.
D. supply of workers is inelastic.
Answer: A
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Describe the facts found in the bond market about the relationship between interest rates on bonds of different maturities
What will be an ideal response?
Maude is complaining about how much she pays in taxes now that the economy is finally doing really well. Even though she's in the same tax bracket as she was last year, she's paying $500 more in taxes this year, just because she earned more overtime pay this year. Maude's increased tax payment to the government is an example of:
A. expansionary fiscal policy. B. contractionary fiscal policy. C. discretionary fiscal policy. D. automatic stabilizers.
If fixed costs are $200,000 and variable costs are $30 per unit over the relevant range of output, when 10,000 units are produced, the average total cost will be
a. $20. b. $30. c. $50. d. $70.
When a tax is progressive, the average tax rate:
A. is constant with income. B. increases with income. C. decreases with income. D. first increases with income, then decreases with income.