The movement of production to affiliate firms outside of the country is known as outsourcing

The household budget constraint may have a kink because

A) there is uncertainty. B) households prefer diversity. C) households may substitute consumption for leisure, or the reverse. D) leisure is limited by the number of available hours.

Suppose you recently took a pay cut of 2% at your job. You expect the price level to fall by 3% during this year. What would be the impact on your real wage?

a. The real wage would fall by 3% b. The real wage would rise by 3% c. The real wage would fall by 1% d. The real wage would rise by 1% e. The real wage would be unchanged