Refer to Table 4-4. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor demanded?
A) 380,000 B) 370,000 C) 360,000 D) 10,000
C
You might also like to view...
Stock owners have claims on the assets and earnings of the firm in proportion to the percentage of total stock they own
Indicate whether the statement is true or false
The price of a coupon bond is determined by:
A. taking the present value of the coupon payments and adding this to the face value. B. taking the present value of all of the bond's payments. C. estimating its future value. D. taking the present value of the bond's final payment and subtracting the coupon payments.
The democratic system of one person/one vote:
A. does not necessarily lead to a political system that favors the poor because many of the poor are illiterate and unable to vote. B. necessarily leads to a political system that favors the poor because the poor organize themselves into groups that can deliver votes to politicians. C. necessarily leads to a political system that favors the poor because there are more poor voters than there are rich voters. D. does not necessarily lead to a political system that favors the poor, because many of the poor do not vote, believing that their individual votes cannot make a difference.
In an economy where firms in most industries are purely competitive firms, individual firms in each industry would produce ________ products and have a ________ share of industry output.
A. differentiated; large B. differentiated; small C. standardized; small D. standardized; large