According to the contract theory of wages, firms and workers agree on a contract that fixes
a. money wages.
b. real wages.
c. money wages and employment.
d. real wages and employment.
A
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In the figure above, with the rent ceiling
A) there is a shortage of 3,000 units. B) there is a surplus of 3,000 units. C) there is a surplus of 2,000 units. D) there is a shortage of 1,000 units. E) the market is in equilibrium.
Behavioral economics is the study of situations in which people make rational choices
Indicate whether the statement is true or false
Which of the following will tend to occur when the interest rate increases?
A) The demand for money curve shifts leftward. B) The demand for money curve shifts rightward. C) There is a rightward movement along the demand for money curve. D) There is a leftward movement along the demand for money curve.
Price elasticity remains constant along a straight-line demand curve
a. True b. False Indicate whether the statement is true or false