An accounting identity is
A) when the balance of payments is running a surplus or deficits.
B) when the balance of trade is in surplus or deficit.
C) an expression of values that are equivalent by definition.
D) special drawing rights.
C
Economics
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In the labor market, adjustments to changes in supply and demand
A) usually occur instantly. B) usually take time to occur. C) do not apply, since the labor market does not respond to supply and demand forces. D) do not apply, since wages in the labor market always go up.
Economics
By the late 1800s, soft coal miners earned a higher hourly wage than other industrial workers of similar skill levels. The mining wage is an example of
a. wage discrimination. b. a monopsony market. c. a compensating wage differential. d. an efficiency wage.
Economics