To understand why wages are so low and the process by which wages are determined, we must focus on the supply side of the labor market

A reduction in tax expenditures _____

a. will cause tax revenues to rise b. will cause government spending on social policy to rise c. will cause inflation to rise d. will reduce the tax base

When a party to a transaction lacks relevant information:

A. they always make the deal blindly. B. they will not make the deal without complete information. C. they sometimes seek out information in ways that are not obvious. D. other parties will voluntarily share this information truthfully.