Deliberation councils have no private sector input
Indicate whether the statement is true or false
FALSE
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Changes in the growth rate of potential output and deviations of actual output from potential output are two logical explanations for:
A. short-term economic fluctuations. B. increasing wage inequality. C. skill-biased technological change. D. the decline in the natural rate of unemployment.
A price floor set above a market equilibrium price causes
A) a surplus. B) a shortage. C) producers to receive lower prices. D) consumers to pay lower prices.
Which of the following government programs usually accompanies a price floor in agriculture?
a. crop limitation b. crop expansion c. ration coupon d. soil bank reduction e. soil reclamation
The theory of efficiency wages suggests that firms may pay above-equilibrium wages
a. to reduce employee turnover. b. to prevent unions from recruiting members. c. to reduce the need for minimum wage laws. d. to increase the demand for better-skilled workers.