Refer to the information provided in Figure 28.3 below to answer the question(s) that follow.
Figure 28.3Refer to Figure 28.3. A firm might pay wages above $10 per hour if it believes such a wage will result in all of the following except
A. agitate unions.
B. reduce worker shirking.
C. reduce worker turnover.
D. improve worker moral.
Answer: A
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The ________ claims that the way societies have organized themselves and shaped the incentives of individuals and businesses are at the root of the differences in prosperity across the world
A) location hypothesis B) geography hypothesis C) institutions hypothesis D) culture hypothesis
Movements of workers from country to country can cause shifts in the labor supply curves for both countries
a. True b. False Indicate whether the statement is true or false
A monetarist would argue that
A) small changes in M could be offset by changes in V and not cause changes in P. B) changes in M in the short run can cause Real GDP to fall. C) prices and wages are flexible. D) b and c E) a, b and c
In terms of the circular flow diagram, businesses obtain revenue through the _____ market and make expenditures in the _____ market
A. product; financial B. resource; product C. product; resource D. capital; product