Each of these statements is true except
A. only a few million workers earn just the minimum wage.
B. about a dozen states have minimum wage rates above the federal level.
C. real wages are higher today than any time in our history.
D. about one quarter of all workers do not earn enough to support their families.
C. real wages are higher today than any time in our history.
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If the market clearing price of computer tablets falls from $400 to $300, and the market clearing output increases from 5 million to 7 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
What is the real wage rate?
What will be an ideal response?
An increase in the price of a firm's good or service shifts its demand curve for labor leftward
Indicate whether the statement is true or false
The Bureau of Economic Analysis releases its first estimate of GDP for a particular quarter about a month after the quarter has ended, and continues to release revised GDP estimates for that quarter for
A) three additional months. B) the next 15 months. C) three years. D) more than three years.