Which of the following contributes to the downward inflexibility of wages, according to mainstream economists?
A. Efficiency wages
B. A monetary rule
C. Price-level surprises
D. Coordination failures
A. Efficiency wages
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Classical economists believed that
A. if saving exceeded investment, prices and interest rates would rise as business accumulated unwanted inventories. B. flexible prices and wages could not restore an economy to full employment if the interest rate were rigid. C. flexible interest rates, wages, and prices would assure full employment. D. voluntary unemployment reflected economic inefficiency.
Refer to the labor market diagrams. The economic impact of occupational licensing can best be demonstrated through Figure:
A. 4.
B. 3.
C. 2.
D. 1.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
The annual Great Sofa Round-up is a collaborative event between Colorado State University and the City of Fort Collins aims to help students and neighbors get rid of unwanted furniture, while giving people in need access to inexpensive sofas
Suppose on the day of the Round-up, your friends take their couches to the main parking lot on campus where the Round-up is held. Raj will not sell his couch for less than $30, Emily will not sell her couch for less than $50, Nara will not sell her couch for less than $20, Sergio just wants to get rid of his couch and he is willing to give it away for free. At the Round-up, potential buyers think that all the couches available are basically the same and they are willing to buy a couch for $25. Who will sell their couch and what is the value of the market producer surplus? A) Nara and Sergio; $30 B) Nara and Sergio; $5 C) Raj and Emily; $30 D) Emily, Nara, and Sergio; $25