Acyclical variables:
a. Move in the same direction as the business cycle
b. Only move in the same direction as the business cycle during recessions
c. Only move in the same direction as the business cycle during expansions
d. Move in the opposite direction as the business cycle
e. None of the above.
.E
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A firm's fundamental goal is
A) different for each firm. B) to make a quality product. C) to maximize profit. D) to gain market share. E) to decrease its employment of workers in order to cut its costs.
The figure above shows the labor market in a region. For a minimum wage to change the wage rate and amount of employment, it must be
A) left to the forces of supply and demand. B) set above $6 an hour. C) set equal to $6 an hour. D) set below $6 an hour. E) set at $12 per hour.