An employer can't legally pay an employee less than $7.25 per hour, which is the federal minimum wage in 2018. Why does this lead to wage stickiness?
Answer: People getting paid the minimum wage will not see a decline in their wages.
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If government regulations significantly increase the cost of operating within a particular market, one result is that
A) new firms are discouraged from entering the market. B) barriers to entry are nullified. C) a perfectly competitive market environment is encouraged. D) new firms are encouraged to enter the market.
Because the Soviet Union educated more scientists and engineers than the United States, their level of economic growth was higher
a. True b. False Indicate whether the statement is true or false
The CPI in year one equaled 1.55. The CPI in year two equaled 1.64. The rate of inflation between years one and two was ________ percent.
A. 9.0 B. 5.8 C. 4.0 D. 6.4
Which of the following is NOT included when calculating GDP?
A. the dollar value of tuition expenditures at a community college B. the dollar value of a newly issued corporate bond C. the dollar value of a new iPhone D. the dollar value of a new car