Based on the answer above, the price for bus rides _____________ and the quantity demanded for rides ____________

Which of the following statements is true of minimum wages?

A) Minimum wages are sometimes referred to as wage ceilings. B) No state in the U.S. economy has ever enforced a minimum wage. C) Minimum wages are normally set above the labor market clearing wage rate. D) Minimum wages benefit firms and producers.

Which of the following is NOT part of the monetary base?

A) currency B) reserves of depository institutions C) the public's checking deposits at commercial banks D) commercial banks' reserves.