Activities that interest groups undertake to secure special favors from government is called rent seeking

The figure above shows the labor market in a region. If a minimum wage of $8 an hour is imposed, then the quantity of labor supplied is ________ and the quantity of labor demanded is ________

A) 60,000; 60,000 B) 80,000; 40,000 C) 40,000; 60,000 D) 60,000; 40,000 E) 40,000; 40,000

According to classical theory, desired saving always equals investment due to changes in

A) prices. B) wages. C) the interest rate. D) taxes.