The major contributor to the long-run improvement of a country's standard of living is
A) low inflation.
B) growth in government.
C) population growth.
D) technological progress.
D
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Why do workers tend to choose low effort levels when they are compensated with fixed wage payments?
A) Workers ignore the cost of effort B) The net compensation after deducting the cost of effort is always higher when the worker provides low effort. C) Workers care more about the stability of income than the level of income. D) Workers tend to be risk averse and tend to choose low-intensity alternatives.
If you believe that a worker should be paid on the basis of what he or she produced, you believe in
A) the egalitarian principle. B) the productivity standard. C) the benefits standard. D) the comparative worth principle.
Which firm is not dealing with adverse selection
a. a manufacturer forgoes a usual 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer requires suppliers to be ISO 9000 certified d. Smokers get the worse life insurance rates as non-smokers
An employer faces a minimum wage control where it cannot pay its workers any less than $10.25 an hour. The employer knows that the workers value the jobs and are willing to work even at much less. The employer decides to offer them the minimum wage but forces them to buy their uniforms from the employer. This is an example of
a. Tying b. Bundling c. Exclusion d. Fraud