The bulk of the M1 money supply is made up of

If a minimum wage is set above the equilibrium wage rate, employment

A) will increase. B) will not change. C) will decrease. D) may increase, decrease or not change depending on how the supply of labor is affected by the minimum wage.

Price reflects the value households place on a good and marginal cost reflects the ________ of the resources needed to produce a good.

A. availability B. opportunity cost C. quantity D. productivity