As the real wage decreases, the quantity of labor demanded ________ and the quantity of labor supplied ________.
A. increases; increases
B. decreases; decreases
C. increases; decreases
D. decreases; increases
Answer: C
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Charter schools
A. are public schools. B. operate under special state government charters. C. can experiment with a variety of approaches to education. D. have some independence in making spending and hiring decisions. E. all of these answer options are correct.
Briefly explain what real business cycle theorists believe causes the business cycle and give an example of how this takes place.
What will be an ideal response?
Which of the following is least likely to induce precautionary saving?
a) the decision to retire from work at age 62 b) the possibility of being laid-off from work c) the uncertainty of one’s lifetime d) the risk of becoming ill e) the prospect of a potentially large tax increase in the future
Briefly explain why often two firms could both be made better off by cooperating, but they fail to cooperate.
What will be an ideal response?