The minimum wage laws seek to
A) penalize employers that are not complying with labor laws.
B) assure a minimum standard of payment for work.
C) assure that all workers are paid the same wage rate.
D) help teenagers find work.
B
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The demand for money is
A) positively related to the nominal interest rate. B) positively related to the real interest rate. C) positively related to the price level. D) negatively related to real GDP. E) negatively related to the price level.
What must balance on a balance sheet?
A) Revenues must equal costs. B) Retained earnings plus dividends paid must equal earnings per share. C) Total assets must equal total liabilities plus equity. D) All of these must balance.
Under a gold standard, countries should
A) keep the supply of their domestic money constant. B) keep the supply of their domestic money fixed in proportion to their gold holdings. C) keep the supply of foreign exchange less than their domestic money supply. D) restrict the demand for foreign goods. E) outlaw speculation.
Which of the following is true about the Taylor principle?
A) it explains the link between higher inflation and higher real interest rates B) it is the foundation for an upward sloping MP curve C) it reflects the practice of monetary policy D) all of the above E) none of the above