An efficient allocation of resources requires each product's price to equal its marginal cost

The White House's deficit commission has proposed several ways for the government to reduce the federal budget deficit, including freezing salaries of federal workers

Other things equal, freezing salaries of federal workers would tend to ________ the opportunity cost of leisure and ________ the supply of labor. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease

The unemployment rate is one measure of the economic health of our nation. Explain how the existence of discouraged workers and underemployed workers may undermine the usefulness of the unemployment rate for this purpose