Minimum-wage laws are least likely to affect the wages paid to
a. teenagers.
b. low-skill workers.
c. inexperienced workers.
d. highly-educated workers.
d
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Which of the following combinations would have an indeterminate effect on the size of the money supply?
a. an increase in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves b. an increase in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves c. a decrease in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves d. none of the above
Which of the following will most likely cause a shift in the consumption function?
a. a change in consumer confidence b. a change in national output c. a change in real GDP d. a change in disposable income