Out of approximately 150 million workers in the U.S. economy, what percentage of the total are paid the minimum wage?
a. Less than 2%
b. Approximately 5%
c. Approximately 8%
d. More than 10%
a. Less than 2%
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The double taxation of saving creates a bias towards _____
a. investment b. consumption c. luxury spending d. the future
If the multiplier is 5, then the MPC must be
A) 1/5. B) 1/6. C) 3/4. D) 4/5. E) 2/3.
Figure 9-1 shows the marginal cost and average total cost curves for a perfectly competitive firm. If the market price is $10, and the firm produces more than 200
a.
the firm earns less profit per unit than if it produced 200 but more total profit.
b.
the firm earns more profit per unit than if it produced 200 and more total profit.
c.
the firm earns less profit per unit than if it produced 200 and less total profit.
d.
the firm earns more profit per unit than if it produced 200 but may make a loss.
e.
the firm will instantly go from making a profit to making a loss
In recent years, many DVCs have come to realize that:
A. Expanded international trade is harmful to DVCs B. Private capital investment is essential for economic growth in DVCs C. The International Monetary Fund is the major institutional barrier to economic growth D. Government involvement in economic development is the only avenue for economic growth