The graph shows the labor market for teenagers in Atlanta. If the government sets a minimum wage of $6 an hour, the number of teenagers employed is ________
A) 7,000
B) 5,000
C) 4,000
D) 3,000
E) less than 3,000
D
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Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, which country is most likely to expand its PPF to PPF1?
A) France B) France and Germany equally C) India D) Germany E) Estonia
The figure above represents the competitive market for slices of key lime pie. When the price equals $3,
A) there is a shortage of slices of pie. B) there is a surplus of slices of pie. C) the efficient quantity of slices is being produced. D) the quantity produced is inefficient. E) the deadweight loss is maximized.
The bond supply curve
A) shows the quantity of bonds lenders are willing to supply as bond prices change. B) shows the quantity of bonds lenders are willing to supply as interest rates change. C) shows the quantity of bonds borrowers are willing to supply as bond prices change. D) is represented by a downward-sloping line when the price of bonds is on the vertical axis and the quantity of bonds supplied is on the vertical axis.
A prudent person is most likely to find the use of financing attractive when purchasing which one of the following items?
A) clothes B) entertainment C) a college education D) rental housing