As of June 2013, after two 70-cent increases in recent years, the federal minimum wage was
A. nearly $9.00 per hour.
B. $5.15 per hour.
C. $5.85 per hour.
D. $7.25 per hour.
Answer: D
Economics
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If a dollar buys more corn in the U.S. than in Mexico, then
a. the real exchange rate is greater than 1; a profit might be made by buying corn in the U.S. and selling it in Mexico. b. the real exchange rate is greater than 1; a profit might be made by buying corn in Mexico and selling it in the U.S. c. the real exchange rate is less than 1; a profit might be made by buying corn in the U.S. and selling it in Mexico. d. the real exchange rate is less than 1; a profit might be made by buying corn in Mexico and selling it in the U.S.
Economics