What is an example of specific job training?
A. learning how to use the firm's payroll system
B. learning word-processing skills
C. passing the CPA exam
D. obtaining a GED
E. becoming stronger
Answer: A
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If the cross elasticity of demand between car insurance and new cars is -0.41, then car insurance and new cars are
A) complements. B) substitutes. C) normal goods. D) inferior goods. E) unrelated goods.
Define the term "property rights." Explain why the lack of well-defined and enforceable property rights is detrimental to the smooth functioning of a market system
What will be an ideal response?
In an options contract, another name for the strike price is the
A) market price. B) exercise price. C) equilibrium price. D) fixed price.
The nominal wage represents: a. the wage measured in terms of the quantity of goods and services a worker can purchase with it
b. the wage measured in terms of the dollar value of the goods and services a worker can purchase with it. c. the real wage from which personal taxes has been deducted. d. the standard of living of workers across time. e. the change in real wage brought about by changes in aggregate supply.