In theory, a minimum wage should lead to unemployment, but there is no evidence of such an effect.
Answer the following statement true (T) or false (F)
False
You might also like to view...
A decrease in the average tax rate, with the marginal tax rate held constant, will
A) increase the amount of labor supplied at any real wage. B) not affect the amount of labor supplied at any real wage. C) decrease the amount of labor supplied at any real wage. D) increase the amount of labor supplied at any real wage if the average tax rate is above the marginal tax rate, but decrease the amount of labor supplied at any real wage if the average tax rate is below the marginal tax rate.
Why does the double taxation of saving occur? Provide a numerical example of the double taxation of saving under a traditional income tax
What will be an ideal response?
When a random demand and marginal cost are linear, producing the quantity at which the marginal cost equals the ________ maximizes ________.
A) expected marginal revenue; expected profit B) marginal revenue; profit C) marginal revenue; expected profit D) expected marginal revenue; profit
The similarity between markets for common resources and markets with externalities is that:
A. the equilibrium quantity is too high in terms of society. B. the price that competitive firms charge does not capture the true costs and benefits of consumption. C. government involvement is needed to reach an efficient outcome. D. generally we get an oversupply at market.