Answer to Question #178655 in Microeconomics for James

Question

QUESTION 13

Government policies:

1. Change the relative desirability of working versus not working..
2. Affect the labor supply.
3. May involve unemployment benefits or maternity leave.
4. May involve child care benefits or welfare policy.
5. All of the above. 

QUESTION 14

Many economists believe that the trend toward greater wage inequality across the U.S. economy:

1. Is fiction.
2. Does not really exist.
3. Is caused by improvements in technology.
4. Will eliminate discrimination.
5. Will eliminate poverty.

QUESTION 15

Rules that prevent people from earning income:

1. Can never succeed.
2. Have no unintended consequences.
3. Have no unforeseen consequences.
4. Are not politically popular.
5. Are very popular with politicians.

QUESTION 16

Only about 1% of U.S. workers are paid minimum wage.

1. The rest are paid less.
2. A small minority is paid higher wages.
3. The vast majority has its wages determined by the market.
4. It has no impact on our society.
5. It is the primary factor influencing our economy.

Answer 1

QUESTION 13

All of the above.

QUESTION 14

Is caused by improvement in technology.

QUESTION 15

Are not politically popular.

QUESTION 16

The vast majority has its wages determined by the market.