It can be argued that the minimum jobs proposal is preferable to a minimum wage law because:
a. it provides more job opportunities to women.
b. it cannot be overturned by the federal government.
c. it puts a floor on the wage as well as on the nature of the job.
d. it applies to students and non-students.
Answer: c. it puts a floor on the wage as well as on the nature of the job.
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The basic economic problem of scarcity
A) is a problem only in developing economies. B) does not apply to the wealthy in society. C) has always existed and will continue to exist. D) will eventually disappear as technology continues to advance.
Which of the following groups would most likely be harmed by inflation?
a. workers b. borrowers c. debtors d. retirees
If Canada is growing too rapidly, and at the same time is agreeing to work toward reducing its trade surplus, Canada could forsake:
A. none of its international commitments. B. its domestic goal but not its international commitment. C. none of its domestic goals. D. its domestic goal and its international commitment simultaneously.
If the quantity of money demanded is greater than the quantity supplied, then in the short run the
A) demand for financial assets increases. B) price of financial assets rises. C) nominal interest rate rises. D) nominal interest rate falls. E) price level rises.