The minimum wage, if it is binding, raises the incomes of
a. no workers.
b. only those workers who cannot find jobs.
c. only those workers whose jobs would pay less than the minimum wage if it didn't exist.
d. all workers.
c
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Select the phrase that correctly completes the following statement. "A decrease in the expected future price caused an increase in the supply of smartphones. As a result
A) the equilibrium quantity of smartphones decreased." B) the price of smartphones decreased and the quantity of smartphones demanded increased." C) the price of smartphones decreased and the demand for smartphones increased." D) the price of smartphones decreased. The lower price caused the supply of smartphones to decrease."
State governments’ main source of revenue is
A. property taxes. B. income taxes. C. excise taxes. D. sales taxes.