Which of the following is a possible criticism of the happy-is-productive model?
A. The economic interests of employees were inappropriately emphasized under this model.
B. The roles attributed to managers under this model represented a new brand of elitism.
C. The model proves to be expensive for a firm to execute.
D. The model is based on the assumption that firms operate in a market where there is fierce competition among firms.
Answer: B
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If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.
A central concept in macroeconomics is the idea of the natural rate of unemployment. Why does it make sense to define full employment to occur when the unemployment rate equals the natural rate of unemployment, instead of when the unemployment rate
equals zero? Elaborate and explain carefully. What will be an ideal response?
To avoid employees "gaming" the system
a. Try to anticipate the more obvious games b. Adjust the compensation scheme to avoid the most obvious games c. Monitor outcomes to ensure that you are getting the behavior you desire d. All of the above
Refer to Table 28-4. What is the adult unemployment rate in Meditor?
a. 10% b. 6.7% c. 6.25% d. 4.2%