The substitution effect of a wage increase:
a. results in an increase in the quantity of labor supplied.
b. results in a decrease in the quantity of labor supplied.
c. has no impact on the quantity of labor supplied

Adam Smith advocated laissez-faire because he believed it was in the interest of:

A. society as a whole. B. capitalists, whom he regarded as the most dynamic and progressive element in society. C. the proletariat, who would receive higher wages. D. the government, which would profit from higher taxes.

A long term partnership between companies to jointly develop produce or sell products

What will be an ideal response?