Economies where goods and services are traded directly for other goods and services are called ________ economies.

Graphically illustrate (using the WS and PS relations) and explain the effects of a reduction in the minimum wage on the equilibrium real wage, the natural rate of unemployment, the natural level of employment, and the natural level of output

What will be an ideal response?

The adverse selection problem is a likely explanation for the fact that

a. some parents use video cameras to monitor the nannies caring for their children. b. some corporate managers were recently sent to prison for enriching themselves at the expense of shareholders. c. people in average health may be discouraged from buying health insurance by the high price. d. gifts can be interpreted as signals.