The more firms that pay efficiency wages, the
A) more likely the economy will get stuck in a recessionary gap.
B) less likely the economy will get stuck in a recessionary gap.
C) more likely the economy will get stuck in an inflationary gap.
D) more likely (over time) the economy will produce Natural Real GDP.
E) b and c
A
Economics
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Economists using marginal utility theory assume that consumers' objectives are to
A) maximize their total utility. B) maximize their marginal utility. C) maximize their income. D) none of the above.
Economics
Changes in the macroeconomy, such as an increase in average per person income, can have effects at the microeconomic level, for example, on the profitability of firms in a particular industry
Indicate whether the statement is true or false
Economics