Opportunistic behavior on the part of the employer is possible because:
a. contracts are often incomplete and leave room for implicit understandings between the two parties.
b. employees often reduce their effort level if they are important to the company.
c. it is difficult to monitor all employees and their performances.
d. good quality work can be easily measured.
A
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As an economic expansion approaches its peak, it is very likely that real GDP will
A) exceed nominal GDP. B) exceed potential GDP. C) equal nominal GDP but not potential GDP. D) be less than potential GDP. E) equal nominal GDP and equal potential GDP.
Show the effects of a change in the nominal interest rate and a change in real GDP using the demand for money curve
What will be an ideal response?
If Jet Cruises chooses to Ad, Easy Sail should ________ and earn ________ million in net profit.
Jet Cruises wants to prevent Easy Sail from entering the sailboat market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Jet Cruises and Easy Sail have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) Ad; $3 B) No Ad; $2 C) Ad; $5 D) No Ad; $4
When quantity supplied is greater than quantity demanded, the price will _____.
Fill in the blank(s) with the appropriate word(s).