The graph shows the labor market for apple pickers in Ohio. If the government sets a minimum wage of $5 an hour, ________ apple pickers are unemployed
A) 6,000
B) 8,000
C) 10,000
D) 14,000
E) more than 14,000
B
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Refer to Scenario 8-1. The value added of CANOES-R-US for each canoe equals
A) $1,200. B) $800. C) $500. D) $400.
Assume the inverse demand function for a good can be written as: P = 30 - 2Q. Assuming P = $10, the resulting consumer surplus would be equal to:
A) $50. B) $100. C) $200. D) $225.
The spending multiplier equals 1/marginal propensity to save if an economy:
a. has a trade surplus. b. is open to international trade. c. does not trade with any other country. d. has a higher level of saving than consumption. e. reduces its investment expenditures to zero.
George and Susan work at the same brewery. George works in advertising. Susan works as a forewoman in the bottling plant. George is paid more than Susan
a. Because the male worker earns a higher salary than the female worker, the employer must be discriminating against women. b. If George has better performance reviews than Susan, the company might be rewarding George for his high productivity. c. If forepersons at bottling plants typically earn more than employees in the advertising department, then the brewery must be discriminating against women. d. George might be earning more because he works the day shift while Susan works the night shift.