President Obama wanted to increase the federal minimum wage.
Answer the following statement true (T) or false (F)
True
President Obama wants to boost the federal minimum wage to $10.10 an hour, up from $7.25 an hour in 2009.
You might also like to view...
You put $75 in the bank one year ago and forgot about it. The bank sends you a notice that you now have $81 in your account. What interest rate did you earn?
a. 5 percent b. 6 percent c. 7 percent d. 8 percent
The price of pineapples has risen dramatically. Which of the following is likely to happen?
A. The quantity of pineapples supplied will increase. B. The quantity of pineapples supplied will decrease. C. The supply of pineapples will decrease. D. The supply of pineapples will increase.
Of the collection of supply and demand diagrams in Figure 2.2, which one shows the result of an increase in the taste for a good?
A. Figure 1 B. Figure 2 C. Figure 3 D. Figure 4
(Table: Trade-off of Study Time and Leisure Time) Look at the table Trade-off of Study Time and Leisure Time. A student sleeps 8 hours per day and divides the remaining time between study and leisure time. Suppose this student is studying 4 hours and spending 10 hours doing leisure activities. What is true about this allocation of his scarce resources?
A) This point is on the production possibility frontier. B) This point is both efficient and feasible. C) This point is inside the production possibility frontier. D) This point is outside the production possibility frontier.