There are several criticisms of the minimum wage. Which of the following is not one of those criticisms? The minimum wage
a. often hurts those people who it is intended to help.
b. results in an excess supply of low-skilled labor.
c. prevents some unskilled workers from getting needed on-the-job training.
d. fails to raise the wage of any employed person.
d
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Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D2 and S1 (point C). Which of the following changes would cause the equilibrium to change to point B?
A) a positive change in the technology used to produce motorcycles and decrease in the price of motorcycle insurance, a complement to motorcycles B) an increase in the number of motorcycle producers and an increase in the number of consumers who prefer riding motorcycles C) an increase in the wages of motorcycle workers and an increase in the price of motorcycle insurance, a complement to motorcycles D) an increase in the wages of motorcycle workers and a decrease in the price of motorcycle insurance, a complement to motorcycles
In the median voter model, we assume that
A) voters will vote for the friendlier of two candidates. B) voters will vote for the candidate who comes closer to matching their views. C) the candidate who occupies the far right has a better chance of winning the election than the candidate who occupies the far left. D) there are three candidates running for the same office. E) b and c