The legal system provided by the government is necessary for the smooth working of markets because
A) it keeps criminals off of the streets.
B) it defines and protects property rights.
C) it is set up in the U.S. constitution.
D) it ensures that producers maximize their profits.
B
Economics
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Monetarists assume that suppliers of labor
a. always have perfect information about the real wage. b. base their decisions on the expected real wage. c. may or may not know the real wage. d. could not possibly have perfect information.
Economics
The natural rate of unemployment
A. means that the economy will always operate at that rate. B. is a fixed unemployment rate that does not change over time. C. means that the economy will always realize its potential output. D. is equal to the total of frictional and structural unemployment.
Economics