The minimum wage is constant across the United States
a. True
b. False
B
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The Bureau of Economic Analysis releases last quarter's growth rate in real GDP. This release would most likely have been written by what kind of an economist?
A. A monetary economist B. A macroeconomist C. A microeconomist D. A labor economist AACSB: Reflective Thinking
When a country's quantity supplied exceeds its quantity demanded for any given price, then this indicates the country has
A) Excess supply. B) Excess demand. C) Import demand. D) None of the above.
Fiscal policy aims to influence the overall health of the economy through changes in:
a. the money supply. b. government spending and tax rates. c. interest rates. d. international exchange rates. e. All of the above.
A price floor represents
A) a maximum price that can be legally charged for a product or service. B) a minimum price that can be legally charged for a good or service. C) a lottery imposed upon producers by the government. D) a first come, first served mechanism for controlling prices.