Which one of the following is a positive economic statement?
A. An increase in the minimum wage will reduce employment for teenagers.
B. The minimum wage should be increased.
C. Social justice will be served by increasing the minimum wage.
D. Thoughtful people oppose an increase in the minimum wage.
Answer: A
You might also like to view...
Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
Which of the following statements is correct?
A. Apricot's dominant strategy is to not develop a touch screen t-shift. B. Apricot's dominant strategy is to develop a touch-screen t-shirt. C. Apricot does not have a dominant strategy. D. Apricot's dominant strategy is to develop a touch-screen t-shirt if Macrosoft does not.
A macroeconomic equilibrium occurs when the
A) quantity of real GDP demanded is greater than the quantity of real GDP supplied. B) quantity of real GDP demanded equals the quantity of real GDP supplied and both equal potential GDP. C) quantity of real GDP demanded equals the quantity of real GDP supplied even if they are not equal to potential GDP. D) quantity of real GDP demanded is less than the quantity of real GDP supplied. E) None of the above answers is correct.
The real wage rate measures the quantity of goods and services an hour's work will buy
Indicate whether the statement is true or false
If the marginal propensity to save (MPS) is 0.50, the value of the spending multiplier is:
a. 1. b. 2. c. 4. d. 9.