Which of the following does an efficiency wage primarily aim to combat?
a. consolidation of a minimum wage
b. formation of unions
c. dereliction of duties
d. rising inflation
c. dereliction of duties
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Generating electricity creates air pollution. This industry, if left unregulated, will produce
A) more than the efficient level of output. B) the efficient level of output. C) less than the efficient level of output. D) sometimes more and sometimes less than the efficient level of output.
According to the quantity theory of money, if the economy were facing inflation, the Federal Reserve Bank could combat it by:
A. decreasing the supply of money. B. increasing the supply of money. C. cutting taxes. D. increasing taxes.
The value of a loan of $50,000 after a year at 2 percent interest is:
A. $49,000. B. $1,000. C. $52,000. D. None of these is true.
A competitive market structure differs from the monopoly, oligopoly, and monopolistic competition structures in the
A) producers' ability to set price. B) profit maximization condition. C) amount of long run profit. D) entry conditions.