Which of the following is the most likely effect of minimum wage laws?
a. increase in the quantity of labor supplied by workers
b. decrease in the quantity of labor supplied by workers
c. increase in the quantity of labor demanded by firms
d. decrease in unemployment
e. a shift to the left of the demand curve for labor
A
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Mary decides to buy a bond from Joe for $100. The money supply will
A) neither increase nor decrease. B) increase by more than $100. C) decrease by $100. D) increase by $100.
If the company plans to produce 9 units, which technology should the firm choose?
a. Technology A b. Technology B c. Either technology because they are equally cost efficient d. Need more information
A point outside (to the right of) the production possibilities frontier is
A. inefficient. B. not attainable. C. efficient. D. easily attainable.
In a common-value setting
a. Oral auctions tend to return higher prices
b. Sealed bid auctions tend to return higher prices
c. Vickery auctions tend to return higher prices
d. Rotating bid auctions tend to return higher prices