Which of the following addresses agency costs?
a. advertising for employee positions in as many outlets as possible
b. hiring only from job fairs
c. spot checks of the quality of employee work
d. reducing the number of holidays
c
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From 1950 to 2015 the number of people who lived on farms fell from 23 million to fewer than 3 million? Which of the following factors have contributed to this trend?
A) government policies that have increased the cost of living and working on farms B) increases in the cost of farming and a desire for young adults to move to urban areas C) rapid growth in farm production and low income and price elasticities for food products D) slow growth in agricultural productivity and low income elasticities for food products
sum of all the individual quantities demanded by each buyer in the market at each price
What will be an ideal response?
Market forces can easily determine a currency's international role, yet government decree is most important in determining the international reserve currency status of a currency
Indicate whether the statement is true or false
If a cartel is unable to monitor its members and punish those firms that violate their agreement, then
A) the member firms will each act as price setters. B) the cartel will prosper in the long run. C) the market will become a monopoly. D) the cartel will fail.