To understand the process of adding value, managers must understand only the costs of production
Indicate whether the statement is true or false
False
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Adverse selection can arise in employment situations if information about worker quality is:
a. better for employees than employers. b. better for employers than employees. c. perfect. d. available at a low enough cost.
If Japan has a current account surplus, then it must:
a. have an offsetting capital account deficit. b. also have a surplus in its capital account. c. import more goods than it exports. d. have a positive balance of payments.
A monopsonistic employer in an unorganized (nonunion) labor market will:
A. pay a wage rate less than labor's MRP. B. pay the same wage rate but hire fewer workers than if the market was purely competitive. C. hire the number of workers indicated by the intersection of the MRC and the labor supply curves. D. pay a wage rate in excess of labor's MRP.
Which of the following interest rates is usually the highest?
A. 30-year mortgage rate B. 20-year Treasury bond rate C. Consumer credit-card rate D. Prime rate of banks