Which of the following is a consequence of minimum wage laws?
A) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage.
B) Employers will be reluctant to offer low-skilled workers jobs with training.
C) All workers benefit when the minimum wage is increased.
D) Low-skilled workers benefit because minimum wage increases the number of jobs providing low-skilled workers with training.
B
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Capital account transactions occur
A) when an U.S. company purchases goods from a foreign company. B) because of cross-border flows of financial assets. C) when you move money from one U.S. bank to another U.S. bank. D) when an U.S. citizen purchases stock in an U.S. corporation.
An example of an abstraction used in macroeconomics is
a. the price level. b. total costs. c. the tax rate. d. the treasury bill rate. e. proprietor's income.