Minimum wage laws, labor unions, and efficiency wages all generate unemployment by what common mechanism?
Wages being above the equilibrium level.
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If both the demand for and the supply of computers are increasing, which of the following statements is TRUE?
A) The consumer should buy a computer now since the price will be higher in the future. B) The consumer should wait and buy a computer later since the price will be lower in the future. C) The price of a computer will be the same in the future as it is now. D) It is impossible to know, given only this information, whether the prices of computers will go up or down in the future.
In 2012, the capital and financial account in the U.S. balance of payments was in:
A. deficit, and smaller than the current account deficit. B. surplus, and equal to the current account deficit. C. balance, with no deficit or surplus. D. surplus, and smaller than the current account deficit.