Refer to Table 4-8. If a minimum wage of 10.50 is mandated there will be a
A) surplus of 30,000 units of labor. B) shortage of 60,000 units of labor.
C) surplus of 60,000 units of labor. D) shortage of 30,000 units of labor.
Question 2
Global warming refers to the effect of global pollutants such as carbon dioxide on climates on the earth. Climate-induced changes in temperatures affect, among other things, agriculture.
Which of the following is a reason why policymakers are still debating if this problem should be addressed and how it should be addressed?
A) There is much disagreement about all aspects of the problem: how much carbon emissions contribute to damage from climate change which in turn determines the benefits from reduction, and what methods to use which in turn determines the cost of reduction.
B) Scientists agree about the damage caused by carbon emissions but disagree about the methods of reducing emissions.
C) The marginal cost of reducing carbon emissions is known with certainly but the marginal benefit from reduction is not known with certainty.
D) The marginal cost of reducing carbon emissions is not known with certainly but the marginal benefit from reduction is known with certainty.
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