As the wage rate rises, eventually the ________ effect will outweigh the _______ effect.
Fill in the blank(s) with the appropriate word(s).
income; substitution
Economics
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The primary current deficit is
A) current expenditures - tax revenues. B) current expenditures + transfers + net interest - tax revenues. C) current expenditures - net interest - tax revenues. D) current expenditures + transfers - tax revenues.
Economics
An open market sale of securities will tend to cause
A) a reduction in the supply of central bank money. B) a reduction in the demand for currency. C) a reduction in the demand for reserves. D) none of the above
Economics