The "invisible hand" refers to
a. the government.
b. the free market.
c. central planners.
d. large businesses.
b
Economics
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Initially a firm pays a wage and gets an output per worker which are given index numbers of 1.00. Five possible 5 percent increases in the wage and the accompanying output per worker are as follows:
1.05 and 1.09, 1.10 and 1.17, 1.15 and 1.24, 1.21 and 1.28, 1.27 and 1.31. What is the efficiency wage? A) 1.05 B) 1.10 C) 1.15 D) 1.21 E) 1.27
Economics
If an increase in one variable causes a decrease in another variable, this is
A) a direct relationship. B) a dependent relationship. C) an independent relationship. D) an inverse relationship.
Economics