Why might an increase in the minimum wage cause more unemployment among those with the least education, job experience and maturity?
What will be an ideal response?
The reason is that employers pay a wage that is no higher than the worker's value to them of an additional hour's work. Raising the minimum wage will force employers to let go of their least productive workers who are likely to be those with the least amount of education, job experience and maturity.
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Monetarists argue that the long-run Phillips curve is negatively sloped
a. True b. False Indicate whether the statement is true or false
Demand is said to be elastic when:
A. the percentage change in the amount demanded is smaller than the percentage change in price. B. the demand curve is relatively flat. C. the elasticity of demand is less than -1. D. the elasticity of demand is greater than -1.
A commercial bank can safely lend out its
A. total reserves. B. excess reserves. C. requires reserves. D. demand deposits.
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. This firm's marginal revenue will be negative at
A. all prices. B. prices between $4 and $18. C. prices above $12. D. prices below $10.