The above figure shows a labor market. Before the minimum wage of $8 an hour is imposed, employment equals ________ workers; after the minimum wage of $8 an hour is imposed, employment equals ________ workers
A) 80,000; 40,000
B) 40,000; 80,000
C) 60,000; 40,000
D) 60,000; 80,000
E) 80,000; 60,000
C
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A Price Ceiling is the;
(a) Minimum price consumers are willing to pay for a product. (b) Minimum price usually set by government that sellers must charge for a product. (c) Maximum price usually set by government that sellers must charge for a product. (d) None of the above.
Which antitrust act was passed to protect independent retailers from "unfair discrimination" by chain stores?
A) Federal Trade Commission Act B) Robinson-Patman Act C) Sherman Act D) Wheeler-Lea Act
An example of a transaction that will be a surplus item on the U.S. balance of payments is
A. a Nissan plant in Tennessee buying parts from the main plant in Japan. B. the purchase of a BMW by an American. C. a gift of cotton from the United States government to Egypt. D. the purchase of Alphabet stock by a German resident.
Refer to the information provided in Figure 26.1 below to answer the question(s) that follow.
Figure 26.1Refer to Figure 26.1. At $1,500 billion, this economy
A. is above its production capacity. B. reaches its capacity. C. is producing below its capacity. D. Any of the above can be correct.