Because the demand for agricultural products is price-inelastic, price support programs tend to:
A. Increase farm income
B. Decrease farm income
C. Have no effect upon farm income
D. Cause farm incomes to fluctuate more than they would without such programs
A. Increase farm income
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Refer to Scenario 17-1. Following the passage of comparable worth legislation, Unity College responds by placing salaries at $65,000. Which of the following is the result of the legislation?
A) The supply of English professors increases and the supply of business professors decreases. B) There will be a surplus in the market for English professors and the market for business professors will not be affected. C) There will be a surplus in the market for English professors and a shortage in the market for business professors. D) The demand for English professors decreases and the demand for business professors increases.
Structural unemployment occurs when unemployed workers move between jobs
a. True b. False Indicate whether the statement is true or false
Credit cards perform the same functions as money as long as the card holder's bank account has sufficient funds to allow the transactions
a. True b. False Indicate whether the statement is true or false
A binding minimum wage creates unemployment
a. True b. False Indicate whether the statement is true or false