An increase in the minimum wage will tend to cause which of the following?
A) an upward shift in the WS curve
B) a downward shift in the WS curve
C) an upward shift in the PS curve
D) a downward shift in the PS curve
E) none of the above
A
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Aaron locked himself out of his house and had to pay $40 to Brianna, who works for Lucky Locksmith, to open his door. Based on this transaction in the economy and using concepts from the circular flow model, which of the following is true?
A) Brianna earned income from supplying her labor services. B) Aaron earned income from supplying his labor services. C) Brianna purchased goods and services. D) Aaron acted as a firm in this transaction. E) Aaron supplied goods and services.
The most important weakness of the Sherman Antitrust Act was that:
A. the Supreme Court refused to enforce it. B. it wasn't specific about the types of acts which would violate the law. C. it didn't outlaw restraints of trade. D. it was too complicated.