A minimum wage set above the equilibrium wage rate is a price ________ that ________ the quantity of low-skilled labor demanded

Marginal revenue (MR) is ____ when total revenue is maximized

a. greater than one b. equal to one c. less than zero d. equal to zero e. equal to minus one

If the marginal productivity of labor was the sole determinant of household income in the U.S., then

a. no households would be poor according to the official government definition of poverty b. no households would be poor according to a relative definition of poverty c. the distribution of income would be unequal d. every household would have sufficient income to meet biological needs e. there would be no need for government programs to redistribute income