The wage below which a worker will not work is
a. the equilibrium wage.
b. the union wage.
c. the efficiency wage.
d. the reservation wage.
d. the reservation wage.
You might also like to view...
Which of the following would not shift the supply curve for halibut?
a. a reduction in the number of available fishing boats b. unusually stormy weather during fishing season c. the development of innovative new fishing equipment that makes it easier to catch halibut d. an increase in the price of halibut
The Fed purchases $200 worth of government bonds from the public. The reserve requirement is 12.5 percent, people hold no currency, and the banking system keeps no excess reserves. The U.S. money supply eventually increases by
a. $25. b. between $200 and $300. c. $1,600. d. $2,500.
Why does the marginal benefit curve have a negative slope?
What will be an ideal response?
Economic theory tells us that inequality in income is unfair if differences in opportunity leads to inequality of income.
Answer the following statement true (T) or false (F)