"The minimum wage should be increased so that low-income workers can afford to feed their families." This is an example of:
a. a positive economic statement

Prices for industrial commodities such as steel rods or machine tools are

A) heavy prices. B) custom prices. C) auction prices. D) sticky prices.

If a person's labor supply curve is positively sloped, the income effect outweighs the substitution effect

a. True b. False