The CBS news correspondent Bill Whitaker discussed the high level of unemployment among teens, especially during the summer months. In 2011, unemployment among the population as a whole was 9.1 percent, but among teens it was close to 24 percent
Many of these teens were hoping to get entry level jobs as small businesses. (Source: CBS news, June 4, 2011) A minimum wage set above the equilibrium wage rate is called A) a price floor.
B) a price ceiling.
C) quota.
D) subsidy.
A
You might also like to view...
If the dollar interest rate is 10 percent and the euro interest rate is 6 percent, then
A) an investor should invest only in dollars if the expected dollar depreciation against the euro is 8 percent. B) an investor should invest only in euros if the expected dollar depreciation against the euro is 8 percent. C) an investor should be indifferent between dollars and euros if the expected dollar depreciation against the euro is 8 percent. D) an investor should invest only in dollars. E) an investor should invest only in euros.
The most important international trade organization is
A) the World Bank. B) the World Trade Organization. C) the International Monetary Fund. D) the European Union.
Air pollution is more dangerous to the public, but toxic waste generates more public uproar. Why?
a. Those exposed to the health hazard posed by the toxic waste site are usually less sure that exposure has occurred. b. Those exposed to the health hazard posed by the toxic waste site are usually more sure that exposure has occurred. c. Fewer people cause air pollution than toxic waste. d. Fewer people are affected by air pollution than by toxic waste. e. Toxic waste causes more illness and death than air pollution does.
One reason that many have not accepted Keynes' views about how the government should respond to economic downturns is that:
A. Keynes' arguments run often counter to popular economic intuition. B. few economists are familiar with Keynes' work. C. the debate has little to no policy relevance. D. no economists believe that economic stimulus measures actually work.