If we were to observe above-equilibrium wages in a particular labor market, then a possible explanation might be that
a. the theory of efficiency wages holds true for that market.
b. there is a powerful labor union representing workers in that market.
c. workers are largely unskilled and/or inexperienced and minimum-wage laws are effectively holding wages up in that market.
d. All of the above are correct.
d
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In the figure above, the United States ________ helicopters per year
A) exports 480 B) exports 720 C) imports 480 D) imports 240
Refer to Scenario 2 . What would be the impact of improvements in technology assuming that each country spends one-half of its resources on capital goods?
What will be an ideal response?
If the Fed expects currency holdings to fall, it conducts open market ________ to offset the expected ________ in reserves
A) purchases; increase B) purchases; decrease C) sales; increase D) sales; decrease
Figure 11-1
?
In Figure 11-1, what can be concluded about the economy if production moves from Point D to Point A?
A. An improvement of calculator technology B. An increase in resources for producing other goods C. A reduction in the need for calculators in the economy D. A more equal distribution of resources in the economy