The real wages of workers will tend to be high when
a. industries are automating at a slow rate.
b. output per worker is high.
c. capital is scarce.
d. profits are low.
b. output per worker is high.
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________ are the time and resources spent trying to exchange goods and services
A) Bargaining costs B) Transaction costs C) Contracting costs D) Barter costs
If individuals save less because inflation lowers returns on savings, this should ________ real interest rates and ________ investment expenditures
A) raise; increase B) raise; reduce C) lower; increase D) lower; reduce
Which of the following allows the greatest value to be generated with a given amount of pollution?
a. Pollution tax b. Regulatory guidelines c. Compliance standards d. Pollution rights
An economy that has a private sector and a public sector is called a ______________.
Fill in the blank(s) with the appropriate word(s).