Total employment tends to decrease in response to any increase in the legal minimum wage because
A) employers can usually find substitutes for unskilled workers.
B) higher wages mean fewer family members will be forced to take jobs.
C) wages must be paid out of profits and profits are limited.
D) workers are often willing to trade jobs for income.
A
Economics
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Currencies that are not backed by precious metals of equal value are called:
a. Repurchase agreements. b. "Trouble" – with a capital "T." c. Near money. d. Fiat money. e. Eurodollars.
Economics
A dominant strategy is one that
A) yields a position of the winner so long as the other participants act as planned. B) every participant in the game will follow. C) turns a negative-sum game into a positive-sum game. D) always yields the highest benefit regardless of what the other players do.
Economics