According to the text, minimum-wage laws cause increases in
A) productivity. B) employment possibilities.
C) poverty. D) structural unemployment.
D
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High opportunity costs go hand in hand with high money costs in a properly functioning economy.
Answer the following statement true (T) or false (F)
One reason that the aggregate demand curve has a negative slope is because
A) firms supply more when prices rise. B) people buy more foreign goods when the domestic price level rises. C) the amount of money in the economy increases when the price level rises. D) firms supply less when prices rise.
The problems of raising the level of the inflation target include
A) if the zero-lower-bound problem is rare, then the benefits of a higher inflation target are not very large. B) the costs of higher inflation in terms of the distortions it produces in the economy are high. C) it is more difficult to stabilize the inflation rate at a higher targeting level. D) all of the above.
A improvement in production technology will shift the
a. supply curve to the right. b. supply curve to the left. c. demand curve to the right. d. demand curve to the left.