Workers with high skills and much experience are not typically affected by the minimum wage
a. True
b. False
Indicate whether the statement is true or false
True
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The motivation for collective action is to do things that benefit society as a whole
a. True b. False
Community-wide poverty:
A. is nonexistent in the developed world. B. creates problems beyond those faced by poor individuals living in wealthier communities. C. only creates problems in less wealthy countries. D. None of these is true.
Which of the following examples shows a coordination problem with monetary policy?
a. Five months after the Fed decreases the money supply, consumer confidence in investing plummets. b. When the Fed decreases the money supply, the government increases purchases. c. After the Fed increases the money supply, pension funds decrease their interest rates. d. After the Fed increases the money supply, the government realizes the MPC estimate was too high.
The benefits of economic growth are ________, while the costs of economic growth are ________.
A. increased output per person; less future consumption B. increased output per person; too small for concern C. more current consumption; less future consumption D. increased output per person; the consumption sacrificed in exchange for capital formation