A minimum wage law is an example of a price floor
Indicate whether the statement is true or false
T
You might also like to view...
A firm will earn economic profits whenever:
A. average revenue exceeds average total costs. B. average revenue exceeds average variable costs. C. marginal revenue exceeds variable costs. D. marginal revenue exceeds marginal costs.
Intermediate targets are
A. macroeconomic variables that the Fed can influence that are related to the Fed's goals. B. identical to instruments. C. macroeconomic variables that never get revised. D. also known as the Fed's tools.
During the period from 1999 - 2008, federal budget deficits
A. were never calculated. B. fell dramatically. C. increased as a percentage of GDP. D. can be regarded as structural.
The aggregate demand curve is downward sloping because a higher inflation rate leads the central bank to ________ real interest rates, thereby ________ the level of equilibrium aggregate output., everything else held constant
A) raise; lowering B) raise; raising C) reduce; lowering D) reduce; raising