Compared to those with lower incomes, families with higher incomes are more likely to be headed by a
a. person age 65 years and older.
b. husband and wife team with one but not the other in the labor force.
c. single-parent.
d. college graduate.
D
Economics
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A problem with measuring the factor shares to determine scarcity or abundance is that:
a. it is very hard to count workers in some nations. b. estimates are very unreliable. c. the quantity of a factor may not be as important as its productivity. d. scientists disagree over the method by which to compute "share.
Economics
The figure above shows the market for low-skilled labor in Midland city. The government sets a minimum wage at $6 per hour. With the minimum wage law enacted, the potential loss from job search in Midland city is
A) $60 million. B) $120 million. C) $40 million. D) zero.
Economics