A minimum wage law may cause unemployment among low-skill workers
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following best describes how banks create money?
A) Banks charge higher interest rates on loans than they pay on deposits. B) Banks charge fees for providing financial advice. C) Banks make loans from reserves. D) Banks create checking account deposits when making loans from excess reserves.
The concept of trade-offs would become irrelevant if
A. we were dealing with a very simple, one-person economy. B. scarcity were eliminated. C. poverty were eliminated. D. capital were eliminated.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.
The smaller the currency drain, the
A) smaller the increase in the quantity of money from an increase in reserves. B) more likely it is that the banking system will hold a larger proportion of excess reserves. C) the smaller the effect of a change in the discount rate. D) larger the increase in the quantity of money from an increase in reserves.