In the early 1980s, the economy experienced high unemployment with falling inflation.
Answer the following statement true (T) or false (F)
True
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Given that the demand for unskilled labor curve is downward-sloping, an unintended effect of raising the minimum wage is that some people who worked at the lower wage will lose their jobs at the higher wage.
Answer the following statement true (T) or false (F)
The costs of inflation to firms due to reprinting price lists are known as
A) seigniorage. B) menu costs. C) velocity costs. D) shoe-leather costs.
Which of the following factors has negatively impacted the viability of the pay-as-you-go Social Security system?
a. Each generation is living longer and thus collecting more benefits. b. The "baby boom" after WWII greatly increases the number of retirees in the first few decades of this century. c. Individuals are having fewer children today. d. all of the above e. a and b
Suppose that you borrow $10,000 for one year, and at the end of the year, you must repay $10,350. The interest rate is
A. 10.35 percent. B. 2.7 percent. C. 6.5 percent. D. 3.5 percent.