In the loanable funds market, the price that borrowers must pay for earlier availability is the

A firm is likely to pay higher efficiency wages when:

A) it is easy to monitor workers. B) it is not easy to monitor workers. C) workers do not have a tendency to shirk at work. D) the minimum wages are set above the equilibrium wage rate.

The act of buying a commodity in one market at a lower price and selling it in another market at a higher price is known as:

A. buying long. B. selling short. C. a tariff. D. arbitrage.