In response to the demands of environmentalists, large sections of timberlands are put off limits to logging. What effect will this have on the aggregate supply curve?

Refer to the scenario above. In this case, the employer may prevent shirking by ________

A) paying an efficiency wage to each worker B) paying a wage less than minimum wage C) reducing the nominal wage paid to workers D) reducing the real wage paid to workers

Producing more cabbage is efficient if

a. cabbage production can be increased without reducing production of other goods. b. the opportunity cost of more cabbage is less than its marginal utility. c. society values the additional cabbage more highly than the lettuce it must give up to produce the extra cabbage. d. All of the above are correct.