A legally mandated minimum wage is an example of:
a. the invisible hand principle. b. a price floor.
c. a price ceiling. d. a fringe benefit.
b
Economics
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Which of the following is an example of a normative question?
A) What fraction of an income tax cut will be spent on imported goods? B) How will an increase in the inheritance tax affect tax revenues? C) How will an increase in unemployment benefits affect the unemployment rate? D) Should Florida implement a state income tax to reduce its deficit?
Economics
A financial statement that sums up a firm's financial position on a particular day is
A) an equity report. B) a balance sheet. C) statement of cash flow. D) an income statement.
Economics