A minimum wage law is predicted to produce
A. higher unemployment among young and inexperienced workers.
B. higher unemployment among all workers.
C. lower unemployment among young and inexperienced workers.
D. increased hiring of young and inexperienced workers.
Answer: A
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When a U.S. restaurant purchases French wine and the French wine company uses the proceeds to buy U.S. government debt, U.S. ________ and there is a capital ________ the United States.
A. exports increase; outflow from B. imports increase; inflow to C. imports decrease; inflow to D. imports increase; outflow from
Planning a vacation at a beach resort, Joey found that hotel prices jumped during the peak summer season, with Fourth of July week being the most expensive of all. Which of the following best explains the seasonal price increase?
a. As demand falls in the summer, the hotel raises room rates to stay profitable. b. The resort raises prices to reduce occupancy during the busiest holiday periods. c. Higher demand drives up prices in the summer as more people take vacations. d. Resorts raise prices in the summer to make people feel their vacation is exclusive.
Alice has conducted a review of her company’s production processes and has identified one labor-intensive process. Which of the following processes did Alice identify as being labor intensive?
a. washing the strawberries with laser activated sprayers b. loading the strawberries into trucks with large electronic conveyors c. mechanically sorting the strawberries with an infrared scanner d. hand-picking the strawberries and carrying them in baskets
Broad-based taxes are less likely to be shifted than partial taxes are.
Answer the following statement true (T) or false (F)