One result of the minimum wage is
A) a black market for labor that pays more than the minimum wage.
B) a black market for labor that pays less than the minimum wage.
C) decreased job search activity.
D) a decrease in unemployment among poor and unskilled workers.
E) an increase in employment among poor and unskilled workers.
B
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Which of the following would be part of the nation's financial account?
A) A night club show seen by an American in Mexico City B) A dividend from a British equity owned by an American C) A payment to the Philippine government for the use of military bases in their country D) One hundred shares of British Petroleum stock purchased by an American
Consider the following misperceptions model of the economy.AD: Y = 600 + 10(M/P)SRAS: Y = 
+ P - PeOkun's Law: (Y - 
)/ 
= -2(u - 
)Let 
= 750, = 0.05, M = 600, and Pe = 40.(a)What is the price level?(b)Suppose there is an unanticipated increase in the nominal money
supply to 800. What is the short-run equilibrium level of output, the unemployment rate, and the price level?(c)When price expectations adjust fully, what is the price level? What will be an ideal response?