The goal of the minimum wage is to ensure workers a minimally adequate standard of living
a. True
b. False
Indicate whether the statement is true or false
True
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At his current level of output, a monopolist has a MR of $10, a MC of $6, and an economic profit of zero. If the market demand curve is downward sloping and his marginal cost curve is upward sloping, the monopolist: a. is producing at the profit-maximizing level of output
b. could increase profit by increasing output. c. could increase profit by increasing his price. d. should exit the market if significant fixed costs have been incurred.
When exchange rates are set by government decree,
a. appreciation is called devaluation. b. depreciation is called devaluation. c. depreciation is called deflation. d. appreciation is called inflation.
Many economists ________ protectionism because it ________ consumers and ________ jobs in domestic industries that use protected products
A) support; benefits; creates
B) criticize; unfairly rewards; relocates
C) criticize; causes losses to; eliminates
D) support; lowers prices for; raises wages for
One of the usual policy changes included in an International Monetary Fund prescription is
A. changes in fiscal policy to reduce the government budget deficit. B. decreased regulation of public sector enterprises. C. temporary cartels in domestic product markets. D. increased barriers to imports.