An increasing trade deficit for Micromania will, ceteris paribus, lead to a devaluation of Micros (Micromania's currency) in world currency markets

An efficiency wage is ________ because the result is ________

A) set below the equilibrium real wage; reduced turnover and more work effort B) set above the equilibrium real wage; reduced turnover and more work effort C) not often used; not much different from minimum wage use D) set above the equilibrium real wage; increased turnover and more work effort E) set above the equilibrium real wage; reduced turnover and less work effort

When the benefits to society of using a product exceed benefits to the user,

a. the product should be strictly regulated b. the product should be taxed c. the product provides a positive externality d. the product is overproduced at the privately determined equilibrium e. in time the product will not be produced