Refer to Table 4-4. If a minimum wage of $10.50 is mandated there will be a
A) surplus of 30,000 units of labor. B) surplus of 60,000 units of labor.
C) shortage of 60,000 units of labor. D) shortage of 30,000 units of labor.
B
You might also like to view...
Like the monopolist, the monopolistically competitive firm:
A. sets the price where marginal cost equals marginal revenue; the demand curve doesn't matter. B. is a price taker. C. faces a downward sloping demand curve. D. All of these statements are true.
The International Monetary Fund has classified 192 economies, comparing the:
a. value of their currencies. b. percentage of women in the workforce. c. effectiveness of governance and institutions. d. flexibility of their exchange rate regimes.
The GDP of the United States includes production by foreign-owned firms that are located in the United States.
Answer the following statement true (T) or false (F)
In the financial crisis that precipitated the 2007-2009 recession, people systematically overestimated their prospects for financial gain. Which branch of economics would most likely have expected to predict this?
A. Neoclassical economics. B. Keynesian economics. C. Behavioral economics. D. Classical economics.