A wage rate that is adjusted for changes in the price level is known as the
A) nominal wage. B) minimum wage. C) functional wage. D) real wage.
D
You might also like to view...
Refer to Figure 14.2. Other things equal, technological innovation would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point C to point B. D) point B to point C.
According to Coasian reasoning, if negotiation is costless:
a. irrespective of the initial distribution of rights, the efficient outcome will minimize the net benefit of the group. b. the efficient outcome will minimize the net benefit of the individual who has more rights compared to the others in the group. c. irrespective of the initial distribution of rights, the efficient outcome will maximize the net benefit of the group. d. the efficient outcome will maximize the net benefit of the individual who has more rights compared to the others in a group.
If the United States changed its laws to allow for the legal sale of a kidney, which of the following is likely to occur?
a. The price of kidneys would rise to balance supply and demand. b. The gains from trade would make both buyers and sellers better off. c. Thousands of lives would be saved. d. All of the above are correct.
Penalties on sellers and buyers
What will be an ideal response?