The labor demand and labor supply schedules are given in the table above. If a minimum wage of $11 per hour is imposed,
A) a surplus of 300 workers occurs.
B) there is no shortage or surplus of workers.
C) 900 workers are employed.
D) Both answers B and C are correct.
E) Both answers A and C are correct.
A
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IMF conditionality refers to the
A) technical assistance the IMF gives. B) minimum size of a national debt problem that a country must have before the IMF gets involved. C) minimum-sized loan the IMF will make. D) maximum-sized loan the IMF will make. E) changes a country must make in order to receive IMF financial assistance.
What is the most important contrast between the segmented markets theory and the expectations theory?
A) The expectation theory states that investors view similar assets that differ only with respect to maturity as perfect substitutes. B) The segmented markets theory states that investors view similar assets that differ only with respect to maturity as perfect substitutes. C) The expectations theory does a better job of explaining why yield curves typically are upward-sloping. D) The segmented markets theory does a better job of explaining why yields on instruments of different maturities tend to move together.
A government-imposed restriction on the quantity of a specific good that may be imported to and sold in the United States is called a
A) tariff system. B) quota system. C) reverse-trade system. D) union trade system.
Which of the following factors weakens the case for private-sector provision of goods and services relative to public-sector provision?
a. externalities b. the rational-ignorance effect c. the shortsightedness effect d. well-informed consumers