The beneficiaries of the minimum wage are confined to those in poverty
a. True
b. False
B
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The contributive standard (merit standard) for distributing income implies that
A) income should be distributed equally. B) income should be distributed according to need. C) income should be distributed according to the marginal productivity of workers. D) a transfer should be contributed to an individual above his or her contribution to net output.
When economists speak of markets, they primarily mean: a. places where production of goods and services take place
b. those locations where stocks and bonds of corporations take place. c. mechanisms that coordinate actions of buyers and sellers. d. the trillions of dollars that change hands in the foreign exchange markets.
Game theory is especially useful for analysis in the following markets:
A. monopolistic competition B. monopoly C. perfect competition D. oligopoly
Keynesian theory is based on the hypothesis that
A. saving is influenced primarily by real current disposable income. B. planned savings equal planned investment only at full employment. C. saving is always equal to savings. D. saving is influenced primarily by the interest rate.