Explain how relatively high wages in the modern sector, as compared to the traditional sector, can lead to a coordination failure

Which of the following will not cause the supply of labor curve to shift in the economics professor industry?

A) a decrease in the wage rate for Ph.D. economists in the banking industry B) a decrease in the number of courses a professor must teach C) Universities have discovered a way to make professors more productive. D) University professors are going to be required to spend more time in their offices.

Ad valorem taxation means

A. that the tax rate is a percentage of the price paid for a product. B. a progressive property tax imposed in some states. C. a negative income tax. D. that only the value added by a service provider is taxed.