Suppose that firms are paying their "efficiency wage" rate and AD shifts leftward. Firms that lower wages and maintain production would
A) achieve lower profits since worker efficiency would fall and total wages paid increase.
B) achieve lower profits since worker efficiency would fall and wages per unit of output increase.
C) achieve higher profits.
D) achieve lower per unit wage costs.
B
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Internal ownership of the debt refers to the portion of the national debt owned by government agencies
a. True b. False Indicate whether the statement is true or false
Monetary policy actions are determined by the
A. President of the United States. B. New York Federal Reserve Bank. C. Federal Open Market Committee. D. all of these
In the United States monetary policy is:
A. undertaken by the Treasury. B. undertaken by the Fed. C. also known as global policy. D. also known as fiscal policy.
A decrease in the demand for health care would most likely result from:
A. Newer and more costly medical technology B. More use of defensive medicine C. An aging population D. Healthier lifestyles