________ wages are wages paid by employers to increase worker motivation and productivity
A) Real
B) Nominal
C) Minimum
D) Efficiency
D
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If resources are used efficiently, then ________
A) marginal social cost is minimized B) consumer surplus plus producer surplus is maximized C) consumer surplus equals producer surplus D) producer surplus is maximized
A student wrote: "Monopolistic competition is a market structure in which a small number of firms compete by making an identical product." If you were the instructor, how would you correct this statement?
What will be an ideal response?
A movement along the bond demand or supply curve occurs when ________ changes
A) bond price B) income C) wealth D) expected return
Among development economists, the big-push refers to
a. the traditional process of economic dualism that forces workers to move from low-wage to high-wage sectors b. an integrated network of government-sponsored and financed investments that are introduced to LDCs all at once c. the political instability in LDCs that puts pressure on existing governments to achieve economic goals d. a strategy of limiting international trade in LDCs in order to protect new industries e. a situation in which there are many economists competing for a limited number of jobs advising LDCs