Countries in which wages adjust rapidly to changes in the supply and demand for labor are likely to have ________ sacrifice ratio.

A. an infinite
B. a high
C. a low
D. a negative


Answer: C

Economics

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Which of the following exchange rate systems have a legislative commitment to exchange domestic currency for a specified foreign currency at a fixed exchange rate?

a. Gold standard b. Gold exchange standard c. Crawling band d. Horizontal band e. Currency board

Economics

Which of the following is an example of a product sold by an undifferentiated oligopoly?

a. steel b. automobile c. a new drug d. breakfast cereal

Economics

Which of the following is NOT a major foreign exchange center?

a. London b. New York c. Tokyo d. Chicago

Economics

Based on the graph showing the effects of an investment tax credit or a technological change, eliminating an investment tax credit would ______.



a. increase the demand curve for loanable funds
b. decrease the demand curve for loanable funds
c. increase the supply curve for loanable funds
d. decrease the supply curve for loanable funds

Economics