Select the normative statement that completes the following sentence: If the minimum wage is raised:
A. cost per unit of output will rise.
B. workers will gain their rightful share of total income.
C. the rate of inflation will increase.
D. profits will fall.
Answer: B
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Which of the following is not a way to become officially unemployed?
a. Quit your job to look for a better job in another part of the country. b. Be fired from your job. c. Look for a job after being out of the civilian labor force for five years. d. Retire. e. Look for a job only for the period in the summer that you are out of school.
Which of the following is a positive statement?
a. Driving speeds should be lowered so that fewer accidents will occur. b. When per capita income falls, fewer meals are consumed at restaurants. c. The minimum wage is too low; college students deserve a raise. d. Cigarette sales should be made illegal in order to reduce the incidence of cancer. e. Social Security is a good program for U.S. workers.