If the economy is in the expansion phase of a business cycle and investment increases, when the multiplier effect kicks in, the expansion

Refer to the table above. The nominal value of the minimum wage in 2011 was

A) $2.00 per hour. B) $3.63 per hour. C) $5.62 per hour. D) $7.25 per hour.

An office supply store sells a ream of printer paper at a fixed price of $4.50. Which of the following is a term used by economists to describe the money received from the sale of an additional ream of paper?

A) pure profit B) gross earnings C) marginal costs D) marginal revenue E) net benefit