Real-wage rigidity in the Keynesian efficiency wage diagram of the labor market is depicted by
A. a vertical labor demand curve at the efficient level of employment.
B. a horizontal line at the efficiency wage.
C. a vertical labor supply curve at the efficient level of employment.
D. a steep, positively sloped labor supply curve depicting various efficiency wages at various employment levels.
Answer: B
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The pool of information collected by financial markets is usually:
A. valuable and not made available until the parties pay for it. B. only available to lenders. C. more than a borrower needs to make a loan. D. summarized in the form of a price.
At the equilibrium level of real gross domestic product (GDP), unplanned inventory adjustment equals
What will be an ideal response?
Which of the following is an accurate argument in support of market power?
A. It contributes to efficient production when there are diseconomies of scale. B. It restricts output and raises prices, contributing to more efficient use of resources. C. It provides greater ability to fund research and development. D. It provides the economic profit necessary for survival and efficient production in a market.
In the circular flow of income, both saving and net taxes flow into government.
Answer the following statement true (T) or false (F)