A minimum wage is the:
A. highest wage that a firm is legally obligated to pay its non-skilled labor.
B. prevailing wage for low-income workers in a nation.
C. lowest wage that a firm is legally allowed to pay its workers.
D. wage every high school dropout will earn if they are employed.
Answer: C
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Stephen R. Covey's book The 7 Habits of Highly Effective People has as the final 7th Habit the following:
a. Sharpen the saw b. Be proactive c. Synergize d. Think win-win
Political candidates running for the same office tend to voice
A) the same views on how things should be accomplished so that one candidate does not gain an advantage over the other. B) the same views on how things should be accomplished, simply because there usually is no difference between their views. C) quite different views on how things should be accomplished so that voters will see that one approach is better than another. D) the same views on what things should be accomplished, but not speak specifically on how things should be accomplished.
A transaction cost for buying a new tennis racket would include ______.
a. the other items that could have been purchased with the money b. an hour spent testing different rackets before buying it c. the price of a can of tennis balls to use with it d. the hours spent using the racket after the purchase
The majority of economists favor open capital flows
Indicate whether the statement is true or false