The minimum payment you are willing to accept to do a job is your:
A. nominal wage.
B. reservation price.
C. value of marginal product.
D. real wage.
Answer: B
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The figure above shows the market for coffee. If more coffee plantations are planted in Brazil and Vietnam so that the supply of coffee increases, the efficient quantity of coffee will ________ and the consumer surplus will ________
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
Price floors lead to market surpluses
a. True b. False Indicate whether the statement is true or false
The free trade zone that includes Argentina, Brazil, Paraguay and Uruguay is known as _______________.
Fill in the blank(s) with the appropriate word(s).
Which of the following legal subjects is most concerned with the economic function of the legal system?
A) criminal law B) public goods C) antitrust legislation D) civil rights