Workers in which of the following countries are often paid less than the U.S. minimum wage?
a. Italy
b. Canada
c. Poland
d. Japan
c. Poland
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What is the difference between microeconomics and macroeconomics?
What will be an ideal response?
Countries with surpluses in their balance of payments frequently do not want to see their currencies ________ because it makes their goods ________ expensive abroad
A) appreciate; less B) appreciate; more C) depreciate; less D) depreciate; more
Income elasticity has a range of
A) greater than or less than one. B) greater than or less than zero. C) greater than or less than negative one. D) less than zero but greater than one.
Farmers can produce wheat and/or rice. What will happen in the wheat market if there is an increase in demand for rice?
a. Wheat supply will increase. b. Wheat supply will decrease. c. Wheat demand will increase. d. Wheat demand will decrease. e. Wheat supply and demand will increase.