Chapter 6
Minimum wage laws dictate
a. the exact wage that firms must pay workers
b. a maximum wage that firms must pay workers
c. a minimum wage that firms must pay workers
d. a minimum wage and a maximum wage that firms may pay workers
C
This artist is known for his hits "Suge" and "Bop" and is featured on Post Malone's hit "Enemies."
DaBaby
Rent-control laws dictate
a. the exact rent that landlords must charge tenants
b. a maximum rent that landlords must charge tenants
c. a minimum rent that landlords must charge tenants
d. rents in markets where supply and demand do not reach equilibrium
B
Becoming increasingly popular in the late 2010s, this kind of competitive gaming could fill a stadium.
Esports
A minimum wage that is set below a market's equilibrium wage will result in
a. an excess demand for labor; that is, unemployment
b. an excess demand for labor; that is, a shortage of workers
c. an excess supply of labor; that is, unemployment
d. all of the above are correct
e. none of the above is correct
E
The 2016 Summer Olympics were held in this South American city.
Rio de Janeiro
Which of the following is correct?
a. Workers determine the supply of labor, and firms determine the demand for labor
b. Workers determine the demand for labor, and firms determine the supply of labor.
c. The labor market is a single market for all different types of workers
d. The price of the product produced by labor adjust to balance the supply of labor and the demand for labor
A
In this Cartoon Network series, a young chef becomes an apprentice for Mung Daal's catering company.
Chowder
A price ceiling is binding when it is set
a. above the equilibrium price, causing a shortage
b. above the equilibrium price, causing a surplus
c. above the equilibrium quantity, causing a surplus
d. below the equilibrium price, causing a shortage
e. below the equilibrium price, causing a surplus
D
Users create characters who become film actors in what online game?
MovieStarPlanet