Advocates of the minimum wage admit that it has some adverse effects, but they believe that these effects are small and that a higher minimum wage makes the poor better off
a. True
b. False
Indicate whether the statement is true or false
True
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The mean (average) income of 25 employees working in a firm is $1,754 per month. What is the total income of all the employees?
A) $40,000 B) $43,850 C) $56,225 D) $63,950
An example of a cooperative game would be
A) oligopoly. B) monopolistic competition. C) a cartel. D) perfect competition.
Which of the following would shift the demand for dollars in the market for foreign currency exchange to the right?
a. foreign citizens want to buy more U.S. goods and services at a given exchange rate b. foreign citizens want to buy fewer U.S. goods and services at a given exchange rate c. foreign citizens want to buy more U.S. bonds d. foreign citizens want to by fewer U.S. bonds
In Figure 10.3, an increase in the demand for labor will cause the equilibrium:
A. wage and hours of labor used to increase. B. wage and hours of labor used to decrease. C. wage to increase and hours of labor used to decrease. D. wage to decrease and hours of labor used to increase.