According to the textbook, proponents of minimum wage laws assume that
A. the supply curve for unskilled workers is downward sloping.
B. the demand curve for unskilled workers is nearly horizontal.
C. the supply curve for unskilled workers is upward sloping.
D. the demand curve for unskilled workers is nearly vertical.
Answer: D
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The value of a country's exports during a particular year was $610,000 and the value of its imports was $995,000. Which of the following is true?
A) The country ran a fiscal deficit of $605,000 during that year. B) The country ran a trade surplus of $385,000 during that year. C) The country ran a trade deficit of $385,000 during that year. D) The country ran a budget surplus of $1,605,000 during that year.
The reason we study the sequential labor negotiation game:
a. Is to show that these games usually go on for rounds and rounds b. Is to show the importance of the first mover being able to commit to an offer c. Is to show the importance of the second mover being able to commit to an offer d. Is to show the problems of prisoners dilemmas