A constitutional amendment requiring an annually balanced budget would help stabilize the economy
a. True
b. False
Indicate whether the statement is true or false
False
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What is an efficiency wage and what effect does it have in the labor market?
What will be an ideal response?
To keep employees from shirking, invest in greater monitoring
a. if monitoring is inexpensive relative to its benefits b. especially when monitoring is not very efficient c. when employees respond well to incentive contracts d. when incentives solve both moral hazard and adverse selection problems with employees
Which of the following is a substitute way of describing what economists mean by the concept of utility?
a. money b. displeasure c. satisfaction d. action e. practicality
The investment curve is ________ of (on) the level of national income and ___________ as the interest rate falls
a. independent; quantity demanded of investment decreases b. dependent; quantity demanded of investment increases c. independent; quantity demanded of investment increases d. dependent; quantity demanded of investment remains unchanged e. dependent; investment curve shifts from horizontal to upward sloping