If the minimum wage were abolished, the employment of unskilled and inexperienced workers would
A. rise.
B. fall.
C. stay the same.
A. rise.
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Which of the following generates productive efficiency?
A) government inspectors B) government production rules and regulations C) competition among sellers D) competition among buyers
If a firm traded on the New York Stock Exchange posts an accounting profit of $10 million, then the firm is making a positive economic profit
A) only if the Securities and Exchange Commission (SEC) approves the accounting report. B) only if the firm's opportunity cost is less than $10 million. C) only if the firm's opportunity benefit is more than $10 million. D) only if the firm's management receives stock compensation.
The balance of goods and services is
a. the same as the merchandise trade balance, since services cannot be traded b. equivalent to the trade balance c. the value of all goods and services exported minus the value of all goods and services imported d. the value of all tangible products exported minus the value of all tangible products imported e. the value of all tangible products exported minus the value of all tangible products imported, and transactions to finance the difference
A particularly severe recession is called a(n):
A. growth recession. B. lull. C. super recession. D. depression.