If you were to ask your employer for a raise, which of the following would be your most effective argument?
A) "My marginal product is greater than my current wage."
B) "I am willing to work more hours each week."
C) "Increases in my productivity have resulted in greater revenue and profits for your business."
D) "I have a job offer at another firm that will pay me more than my current wage."
C
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A single-price monopoly is ______
A. inefficient because it converts consumer surplus to producer surplus B. inefficient because it produces too small an output and creates a deadweight loss C. efficient because buyers are paying a price equal to their willingness to pay D. efficient because it is the only producer of the good
Which of the following is the most powerful argument for putting restraints on policy makers (as opposed to self-restraint by policy makers themselves)?
A) time inconsistency B) uncertainty about Okun's coefficient C) uncertainty about the natural rate of unemployment D) uncertainty about the timing of policy impacts E) disagreements about the proper structure of an econometric model