Which of the following would be most likely to contribute to the breakdown of a cartel in a natural resource (e.g., bauxite) market?

For the past year, Teddy has had a part-time job at which he is willing to work 30 hours each week. During Teddy's annual review, his boss grants him an 8 percent increase in his wage

As a result of the wage increase, Teddy is now willing to work 25 hours each week. Teddy's opportunity cost of ________ has risen and because for Teddy the substitution effect of the wage hike is ________ than the income effect. A) work; greater B) work; less C) leisure; greater D) leisure; less

Which of the following is the most likely cause of a recession according to classical and new classical models?

a. government policy. b. unstable expectations. c. a fall in expected profits. d. an anticipated change in the money supply. e. none of the above.