With respect to efficiency wage models, the efficiency of workers depends
a. positively on the money wage they are paid.
b. positively on the real wage they are paid.
c. inversely on the age of the workers.
d. positively on the unemployment rate.
B
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Starting from long-run equilibrium, the long-run impact of a war that raises government purchases, compared to the original equilibrium, is:
A. higher inflation and higher output. B. lower inflation and the same output. C. lower inflation and lower output. D. higher inflation and the same output.
The table above has the domestic supply and domestic demand schedules for a product
What is the equilibrium price with no trade? Over what range of prices will the country export the good? Over what range will it import the good? Suppose the world price is $20. What is the quantity demanded, the quantity supplied, and the amount of the good exported or imported?
Until the 1980s most private pension plans were "defined __________" plans under which the periodic employer payment into the plan was __________
A) benefit; variable B) benefit; preset C) contribution; variable D) contribution; preset
Which of the following statements is true about voting results if preferences are intransitive?
a. The result of voting never reflects majority preferences. b. It is impossible to predict the outcome when preferences are intransitive. c. The person who sets the agenda (sequence of votes) may be able to control the outcome. d. Only a Borda Count yields a unique result when preferences are intransitive.