Differences in income are most directly related to which of the following economic question?
A) What goods and services are produced?
B) In what quantities are various goods and services produced?
C) How are goods and services produced?
D) Who consumes the goods and services that are produced?
D
Economics
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Refer to Table 4-7. If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor demanded?
A) 80,000 B) 550,000 C) 630,000 D) 1,180,000
Economics
Mercantilism
A) is the philosophy of free international trade. B) was a system of export promotion and barriers to imports practiced by governments, especially in the 17th and 18th centuries. C) was praised by Adam Smith in The Wealth of Nations. D) Both A and C.
Economics