A minimum wage that is below the equilibrium wage rate does not raise unemployment
a. True
b. False
Indicate whether the statement is true or false
True
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Comment on the following: "Present-biased people are impatient, but impatient people don't necessarily have to be present-biased."
What will be an ideal response?
An increase in disposable income would tend to shift aggregate demand right
a. True b. False Indicate whether the statement is true or false
Efficiency is illustrated by
a. both the production possibilities frontier and the circular-flow diagram. b. neither the production possibilities frontier nor the circular-flow diagram. c. the production possibilities frontier only. d. the circular-flow diagram only.
Which of the following are used as nontariff barriers?
A) health and safety standards B) government procurement policies C) domestic content laws D) All of the above