In the long run the primary effect of increasing the quantity of money is higher prices

If the government removes a binding price floor from a market, then the price paid by buyers will

a. increase, and the quantity exchanged will increase. b. increase, and the quantity exchanged will decrease. c. decrease, and the quantity exchanged will increase. d. decrease, and the quantity exchanged will decrease.

A higher wage could result in a lower labor cost per unit of output than a lower wage if the higher wage:

A. brings forth greater work effort. B. increases supervision costs. C. increases job turnover. D. increases worker absenteeism.