Income effect of lower wages implies
a. workers prefer leisure to work.
b. an increase in the productivity of labor.
c. a fall in the demand for labor.
d. workers would want to work more.
d
Economics
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Assuming your local cash price is quoted above the CBOT futures price, an increase in transportation costs in your area would be expected to have what effect on the basis:
A. Widen the basis. B. Strengthen the basis. C. No effect on the basis. D. Not enough information to tell.
Economics
The school of thought that assumes that real GDP is determined by aggregate supply, whereas the equilibrium price level is determined by aggregate demand is known as _____
a. neoclassical economics b. classical economics c. new Keynesian economics d. Keynesian economics e. Marxist economics
Economics