Which economist is credited with having been the first to discuss the "lemons problem"?
A) George Akerlof
B) Milton Friedman
C) Robert Shiller
D) James Tobin
A
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The measurement of economic growth cannot take into account
A) the service sector of an economy. B) productive activity in an economy. C) cultural aspects of life in a country. D) differences in inflation rates across countries.
Which of the following methods could be used by an employer to align the incentives of an employee with its own interests?
a. Paying market wages b. Paying efficiency wages c. Signaling d. Partially outsourcing human resource functions
If the cross-price elasticity of demand between two goods is -1.2, then the two goods are:
A. elastically demanded. B. inferior. C. complements. D. substitutes.
The U.S. labor productivity speed-up of 1995–2010 could be explained by
A. the delayed adoption and familiarization with technology. B. increases in government spending. C. reductions in the real interest rate. D. higher wages.