Minimum-wage laws are precise policy instruments that can specifically target workers whose family incomes are low
a. True
b. False
Indicate whether the statement is true or false
False
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Use the aggregate expenditures model and the following values to answer the next question. AMPCIGT$7500.5$1,000$1,000$500Determine the equilibrium level of consumption (find ?C) following a decrease in taxes from 500 to 400 (?T = -$100).
A. $2,900 B. $3,200 C. $3,100 D. $3,000
Licensing laws
a. are illegal in most industries b. serve to increase wage rates in some industries c. lead to higher employment levels in some industries d. reduce the quality of labor in a particular market e. are rarely effective at increasing wage rates
The actions of speculators make the speculators better off, but they necessarily make the rest of society worse off
Indicate whether the statement is true or false
Countries with relatively low inflation rates will have appreciating currencies.
Answer the following statement true (T) or false (F)