In the economic literature on principal-agent problems, the ________ is the person who takes some action, and the ________ is the person whom the action affects
A) agent, principal
B) principal, agent
C) Both statements describe the agent.
D) Both statements describe the principal.
A
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Long-run aggregate supply and a country's production possibility curve (PPC)
A) are inversely related. B) are closely related. C) have no relationshi
Who was the author of the following prediction: in the absence of a system for enforcing order in society, life will be "solitary, poor, nasty, brutish, and short"?
A) Thomas Hobbes B) John Maynard Keynes C) Thomas Kuhn D) Jean-Jacques Rousseau E) Adam Smith
Which of the following would decrease the natural rate of unemployment?
A) a decrease in government-sponsored programs that train unemployed workers so they can find new jobs quickly B) an increase in the generosity of unemployment insurance programs C) fewer restrictions on unions to negotiate wage changes with companies D) a decrease in the number of younger, less skilled workers in the economy
Refer to Scenario 5.3. Where is the highest expected revenue, based on the 10 years' past performance?
A) Whizbo B) Yowzo C) Zowiebo D) Whizbo and Yowzo E) Yowzo and Zowiebo