Which of the following statements is true?
a. The intention of a minimum wage is to raise the wage rate for the skilled workers
b. The lowest of the federal or state minimum wage levels prevails in each state.
c. The federal minimum wage, in the United States, is followed by all the states as their minimum wage.
d. The minimum wage has the greatest impact on the unskilled labor market.
e. The minimum wage has the greatest impact on the skilled labor market.
d
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Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck's economic profit will be ________.
A. $2,000 B. $4,000 C. $6,000 D. $3,000
Suppose that you are spending two hours a day studying economics, and your grade is 85 percent. You want a higher grade and decide to study for an extra hour a day. As a result, your grade rises to 90 percent. Your marginal benefit is the
A) 5 point increase in your grade minus the opportunity cost to you of spending the hour studying. B) extra hour per day you spend on studying. C) 5 point increase in your grade. D) three hours per day you spend on studying.
As the capital-labor ratio increases, real GDP per worker ________, and investment per worker ________
A) increases; decreases B) decreases; increases C) increases; increases D) decreases; decreases
________ recognizes that obtaining any scarce good involves a cost which affects behavior and goal setting
a. The Dagher Theory b. Fiduciary thinking c. The Nish-Byer Theory d. Economic thinking