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Question
Efficiency wages areA) the legal minimum wage a firm can pay a worker.
B) a possible cause of job rationing because they drive wages below their equilibrium level.
C) a possible cause of job rationing because they drive wages above their equilibrium level.
D) a possible cause of job rationing because they force wages to equal their equilibrium level.
E) another name for the equilibrium wage.
Answer
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Related questions
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Scarcity results from the fact that
A) people's wants exceed the resources available to satisfy them.
B) not all goals are desirable.
C) we cannot answer the major economic questions.
D) choices made in self-interest are not always in the social interest.
E) the population keeps growing.
Q:
Why does scarcity lead to the what, how, and for whom questions?
Q:
Choices that are best for the society as a whole are choices in pursuit of
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B) the social interest.
C) self-interest.
D) incentives.
E) answering the "for whom" question.
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A) What type of health care will be produced and in what quantity?
B) How will health care be produced?
C) For whom will health care be produced?
D) Why will we offer health care?
E) Must we offer health care?
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When unskilled teens earn less than college graduates, society answers the ________ question.
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B) what
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When the federal government decides to pay senators more than it pays soldiers, it answers the ________ question.
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The figure above shows the relationship between the journey length and the cost of trip per mile. The curve becomes flatter because as the journey length increases,A) the fall in the cost per mile becomes smaller.B) the fall in the cost per mile becomes greater.C) the cost per mile decreases.D) the cost per mile increases.E) the cost per mile remains unchanged.
Q:
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B) Should we collect tolls on turnpikes using human toll collectors or mechanized toll machines?
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When a home builder decides to computerize all of its production schedules, it directly answers the ________ question.
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B) why
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B) Eric buys a replacement ticket to the basketball game after he realizes that he accidentally left his original ticket at home.
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A) What?
B) How?
C) For whom?
D) Why?
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Q:
Which of the following is a topic studied in macroeconomics?
A) the pricing decisions in the computer hardware industry
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Q:
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A) It analyzes the aggregate effects on the national economy of the choices made by individuals, firms, and governments.
B) It studies the choices that individuals and businesses make when coping with scarcity.
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Q:
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Q:
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Q:
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Q:
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B) y-axis divided by the change in the variable measured along the x-axis.
C) x-axis minus the change in the variable measured along the y-axis.
D) x-axis multiplied by the change in the variable measured along the y-axis.
E) y-axis minus the change in the variable measured along the x-axis.
Q:
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Q:
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Q:
An independent relationship between two variables is shown in a graph by
A) an upward-sloping line.
B) a horizontal or a vertical line.
C) a downward-sloping line.
D) a steeply sloped line.
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