The real minimum wage has increased significantly over the last 40 years.
Answer the following statement true (T) or false (F)
False
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In the above figure, the firm is breaking even at points
A) a and c. B) b and d. C) c and d. D) a and d.
The output effect of a change in the wage rate on a firm's demand for labor input will be greater
a. the larger the share of labor costs in total costs and the greater the price elasticity of demand for output. b. the larger the share of labor costs in total costs and the smaller the price elasticity of demand for output. c. the larger the share of labor costs in total costs and the higher the quantity demanded. d. the smaller the possibilities of substituting capital for labor.
If the fraction of the population that is below the official poverty level has decreased, then
a. the number of poor must have increased b. the number of poor must have decreased c. the population must have increased d. the number of poor may have increased or decreased e. the number of people above the official poverty level must have increased
Suppose a Canadian investor buys a one-year U.S. government bond that pays 7 percent interest. If the U.S. dollar appreciates 4 percent against the Canadian dollar during the year, what must be the yield on a comparable Canadian government bond for interest rate parity to hold?
a. 3 percent b. 4 percent c. 7 percent d. 10 percent e. 11 percent