Economists believe that the ________ determines the price level in the long run.

If the demand for online banking increases, we would expect to see the

A) supply of workers that produce online-banking services to increase. B) supply of workers that produce online-banking services to decrease. C) demand for workers that produce online-banking services to decrease. D) demand for workers that produce online-banking services to increase.

The ethics justifying wage rate determination in a perfectly competitive labor market is

a. from each according to his or her ability, to each according to his or her labor supply b. workers receive a wage rate equal to their marginal revenue product c. the wage rate differentials workers receive are equal to the differentials in noncompeting labor markets d. workers produce a good whose price alone determines their wage rate and determines as well the value consumers place on the good they produce e. the wage rate that workers receive multiplied by the number of workers equals the sum of each worker's marginal revenue product