The regular pattern of income variation over a person's life is called the
life cycle
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Why are corporate executives are often guaranteed "golden parachutes" if they should be fired?
a. To give them the incentive to take the higher levels of risk desired by stockholders. b. To ensure that they exercise great caution in spending stockholders' money. c. To encourage the most experienced people to apply for the executive positions. d. To provide a signal to the public that the firm is on solid financial ground.
Entrepreneurship is typically identified with which of the following?
a. professionalism and dedication b. risk-taking and creativity c. impulsiveness and leadership d. organization and sense of humor e. boring and rich
Real estate agents have been found to keep their own homes on the market longer and sell their homes for more than comparable homes of the individuals they represent. This phenomenon is best described by which of the following concepts?
a. Adverse selection b. Moral hazard c. Availability bias d. Time inconsistency
Always Round Tire has a production function of Q = 300 L.75 K.5. If Always Round Tire doubles the size of its production facility-increasing L from 250 to 500 and K from 25 to 50 -what happens to the cost of production, even though we do not know the wages of labor or the price of capital?
What will be an ideal response?