A binding minimum wage
a. affects employees but not employers.
b. lowers the productivity of workers.
c. raises the cost of labor to firms.
d. All of the above are correct.
c
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Tourists in foreign countries are often charged more for hand-made items at tourist shops compared to the local customers. Why?
A) The tourists are typically less informed than the local customers. B) The tourists typically have fewer available alternatives compared to the local customers. C) The shop owners can usually identify tourists. D) For all of the above reasons.
For products like parking lots and hotels, the relevant costs and benefits for setting price are
a. LRMR and LRMC b. LRMR and SRMC c. SRMR and SRMC d. SRMR and LRMC
How many U.S. labor unions have at least 1.3 million members?
A. 0 B. 2 C. 6 D. 9
For barter to occur, traders must have a:
A. unit of account. B. coincidence of wants. C. medium of exchange. D. central banking facility.