A minimum wage increases unemployment by
A) increasing the quantity of labor demanded.
B) decreasing the quantity of labor demanded.
C) shifting only the labor supply curve rightward.
D) shifting only the labor demand curve leftward.
E) shifting the labor supply curve rightward and shifting the labor demand curve leftward.
B
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The process of rapidly adjusting prices based on information gathered on consumers' preferences and their responsiveness to changes in price is called
A) elasticity management. B) marketing. C) yield management. D) brand management.
A nation with cheap, efficient communications is likely to be
a. richer, ceteris paribus, because transaction costs will be lower and trade greater. b. richer only if production of goods is cheaper, too, since trade itself cannot create value. c. poorer since it spends so much on communication instead of true productivity. d. spending too much on communications, which adds nothing to the value of output.
An increase in the U.S. government budget deficit shifts the
a. demand for loanable funds right and decreases investment spending. b. supply of loanable funds right and increases investment spending. c. supply of loanable funds left and decreases investment spending. d. None of the above is correct.
The term "gross domestic purchases" refers to
A. the amount spent only by U.S. consumers on final goods and services. B. the amount spent only by government on final goods and services. C. the amount spent by U.S. consumers, businesses, and government on final goods and services. D. the amount spent only by businesses on final goods and services.