A firm might prefer a commission system of compensation when the nature of the work is repetitive and monotonous and can be performed by an individual

An important distinction between Friedman's and others' views of the demand for money is the former's emphasis on the

A) substitution between money and virtually all other goods and assets. B) nominal rate of interest. C) substitution between money and other financial assets. D) effects of wealth.

Say the supply of a product falls while the demand stays the same. This causes the free market ________

a. price to increase and equilibrium quantity to increase b. price to increase and equilibrium quantity to decrease c. price to decrease and equilibrium quantity to increase d. price to decrease and equilibrium quantity to decrease