One result of the minimum wage is
A) a black market for labor that pays more than the minimum wage.
B) a black market for labor that pays less than the minimum wage.
C) decreased job search activity.
D) a decrease in unemployment among poor and unskilled workers.
E) an increase in employment among poor and unskilled workers.
B
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Which of the following is NOT included in the U.S. current account?
A) U.S. investment abroad B) net interest income C) net transfers D) imports of goods and services
The aggregate demand curve indicates the relationship between:
A. the real wage rate and the quality of resources demanded by producers of goods and services. B. the interest rate and the amount of loanable funds demanded by borrowers. C. the natural rate of unemployment and the demand for goods and services when the economy is in long-run equilibrium. D. the general price level and the aggregate quantity of goods and services demanded.
The largest source of receipts for the federal government is
A. personal income taxes. B. Social Security taxes. C. corporate income taxes. D. capital gains taxes.
The ultimate burden of the corporate profits tax appears to depend on all of the following except
A. the relative capital/labor intensity of the corporate and noncorporate sectors. B. the tax rate structure of the corporate profits tax. C. the ease with which capital and labor can be substituted in the corporate and noncorporate sectors. D. the elasticities of demand for the products produced in the corporate and noncorporate sectors.