Which of these does not interfere with the price mechanism?
A. Usury laws
B. Minimum wage laws
C. Farm price supports, or price floors
D. The law of supply and demand
D. The law of supply and demand
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The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $4 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
The highest rate of U.S. growth was recorded in which of the following periods?
A) 1948-73 B) 1967-83 C) 1974-95 D) 1996-2008
A college professor hires a student to babysit her children and pays the student an efficiency-wage. Which of the following is correct about the wage the student earns?
a. The wage is higher than the wage the student could earn working a similar job elsewhere. b. The wage is the same as the wage the student could earn working a similar job elsewhere. c. The wage is lower than the wage the student could earn working a similar job elsewhere. d. The wage is likely to result in the student shirking responsibilities.
The labor force is the
What will be an ideal response?