Which of the following transactions is included in GDP?
A. Social Security check received by an elderly couple
B. funds received by a college student for working in the college dining hall
C. funds given to a family on welfare
D. funds given to a college student by her parents
Answer: B
Economics
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In the labor market, if the government imposes a minimum wage that is below the equilibrium wage, then
A) workers who wish to work at the minimum wage will have a difficult time finding jobs. B) firms will hire fewer workers than without the minimum wage law. C) some workers may lose their jobs as a result. D) nothing will happen to the wage rate or employment.
Economics
How can increased investment help a country achieve increased economic growth?
Economics