To improve workers' morale, a firm pays higher wages for its workers. This firm is paying
A. sticky wages.
B. minimum wages.
C. flexible wages.
D. efficiency wages.
Answer: D
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An increase in government spending causes the equilibrium level of aggregate output to ________ at any given interest rate and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left
The gap between the actual and predicted values of a dependent variable is called
A) the error term. B) an exogenous factor. C) the residual. D) an endogenous factor.
In 1773, who won 20,000 pounds (approx. 12 million dollars) by becoming the first person to accurately measure longitude while out at sea?
a. John Harrison b. James Cook c. Alexander Agassiz d. Roald Amundsen
Differentiate between the independent and dependent variables in an economic relationship
Please provide the best answer for the statement.