If, as a result of imperfect information, firms set their wage rates ________ the market clearing wage rate, there will be a shortage of workers.
A. above
B. at
C. below
D. above or below
Answer: C
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When a surplus of rice occurs,
A) the price of rice rises. B) the price of rice falls. C) there is a balance between the forces of supply and demand. D) the quantity demanded is greater than quantity supplied at the current price. E) the demand curve shifts rightward and the supply curve shifts leftward to eliminate the surplus.
Although Africa's debt/GNP ratio is larger than Latin America's, the debt-service burden is lighter. Explain this and relate it to changes in the nature of development lending in the 1970s
What will be an ideal response?
Which of the following is true of saving and investment?
a. There is no relationship between saving and investment; people can invest without having to save. b. Saving and investment can never be undertaken together by the same person. c. Saving and investment must always be undertaken by the same person. d. If investment is going to be undertaken, someone must save.
A binary variable is a variable whose value changes with a change in the number of observations.
Answer the following statement true (T) or false (F)