Refer to Table 4-4. If a minimum wage of $10.00 an hour is mandated, what is the quantity of labor supplied?
A) 390,000 B) 370,000 C) 350,000 D) 40,000
A
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If the unemployment rate is 5 percent (full employment), the United States economy is operating
A. inside the production curve. B. on the production curve. C. outside the production curve.
Discrimination exists when a man and a woman with the same levels of education earn different incomes.
Answer the following statement true (T) or false (F)
In the dollar-yen foreign exchange market, if Japanese companies sharply increase their importation of U.S. products, then the:
A. Supply of yen will decrease and the yen will appreciate B. Supply of yen will increase and the yen will depreciate C. Demand for yen will increase and the yen will appreciate D. Demand yen will decrease and the yen will depreciate
If average labor productivity in two countries is the same, average living standards will be lower in the country with:
A. the smaller population. B. the larger population. C. the lower share of population employed. D. the higher share of population employed