A minimum wage
A. increases the number of unskilled workers who are employed.
B. increases wages to all unskilled workers.
C. increases the wages paid to unskilled workers who are employed.
D. increases cyclical unemployment.
Answer: C
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The period of the business cycle between the peak and the trough is the
A) recession. B) expansion. C) recovery. D) All of the above may fall between the peak and the trough.
A common incentive owners offer managers is
A) the year-end bonus. B) stock options. C) profit sharing. D) All of the above.
The following is an example of a pure public good
A. national defense. B. Yellowstone National Park. C. public education. D. clean air.
In the diagram below, the following would be a possible explanation for the difference between PPF1 and PPF2. (Assume the starting point is with all butter and no guns.) 
A. A dramatic shock to the resources needed to produce butter. B. A technological improvement in the production of butter and guns. C. A technological improvement in the production of butter. D. A technological improvement in the production of guns.