An increase in the minimum wage to $7 would cause ____ million people to lose their jobs.
18
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Precautionary demand for money will fall when
A) the interest rate rises. B) the interest rate falls. C) the money supply increases. D) government spending falls.
Most economists believe that there are positive externalities in education. One can conclude that a free market would fail to give the socially optimal outcome because the equilibrium:
a. price and quantity would be too high. b. price would be too low and quantity would be too high. c. price and quantity would be too low. d. price would be too high and quantity would be too low. e. price and quantity would be just right.
Claire was trying to decide if she should buy a share of stock in her favorite company or a bond issued by that same company. She discussed the dilemma with her father. Her father made the following five statements. All of them are accurate except for one. Which one is the exception?
a. "If you buy a share of stock you will own a piece of the company" b. "If you buy a bond you will own a piece of the company" c. "If you buy a bond and change your mind you can sell it on the secondary bond market" d. "You should be careful because if you buy a share of stock you could loose your original investment" e. "If you buy a stock it may be worth more in the future"
Which of the following would likely be studied by a microeconomist rather than a macroeconomist?
a. the effect of foreign direct investment on economic growth b. the effect of a sales tax on the cigarette industry c. the effect of an investment tax credit on the economy's capital stock d. the effect of a war on government spending