Social contracts are ________ agreements between workers and firms that firms will not cut wages.
A. written
B. union
C. unspoken
D. formal
Answer: C
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When the price level rises there is a ________ the aggregate demand curve
A) movement down along B) rotation of C) rightward shift of D) leftward shift of E) movement up along
The outcome of regulating a natural monopoly using the marginal cost pricing rule is
A) that the firm makes a normal profit. B) that the firm maximizes its profit. C) that consumer surplus is less than what it would be if the firm maximized its profit. D) an efficient level of production. E) that the firm makes an economic profit.
Most savers:
A. lend their money directly. B. deposit their savings into banks, retirement accounts, and life insurance companies. C. do not use proxies to decide who to lend their money to. D. All of these are true.
According to Figure 18.2, a shift from AS2 to AS3 is most likely to result from
A. A decrease in the reserve requirement. B. An increase in government spending. C. An increase in government regulation. D. A decrease in the marginal tax rate.