The nominal wage rate is the
A) minimum hourly wage that a company can legally pay a worker.
B) average hourly wage rate measured in the dollars of a given reference base year.
C) minimum hourly wage rate measured in the dollars of a given reference base year.
D) average hourly wage rate measured in current dollars.
E) wage rate after inflation has been adjusted out of it.
D
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If a competitive firm is in short-run equilibrium, then
A) economic profits equal zero. B) economic profits will be positive. C) economic profits will be negative. D) All of the above are possible in the short run.
In 2012, the U.S. federal government legislation authorized:
A. 152 earmarks totaling $3.3 trillion. B. 2,300 earmarks totaling $8.7 billion. C. 10,160 earmarks totaling $19.6 billion. D. 11,700 earmarks totaling $16.9 billion.