Unless the specialists involved in the different stages of production coordinate among themselves, specialization and division of labor can result in unused capacities and investment mismatches
Indicate whether the statement is true or false
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Which of the following statements is true?
A) A higher wage can raise profits if productivity is directly proportional to wages. B) A higher wage can reduce the quantity supplied of labor. C) A higher wage can increase the quantity demanded of labor. D) A higher wage can raise profits if productivity of workers is fixed.
When a transaction takes place repeatedly, then one way to signal to avoid information asymmetry is:
A. screening. B. statistical discrimination. C. building a reputation. D. Any of these could be true.
Which of the following is correct?
a. Economic forecasts are precise and aggregate spending responds almost immediately to interest rate changes. b. Economic forecast are precise and aggregate spending responds to interest rate changes with a lag. c. Economic forecasts are imprecise and aggregate spending responds almost immediately to interest rate changes. d. Economic forecast are imprecise and aggregate spending responds to interest rate changes with a lag.
In a floating exchange-rate system, the dollar per pound exchange rate is determined by
A. the interaction of the demand and supply of pounds in the foreign exchange market. B. the American government. C. the interaction of the demand for and supply of dollar-denominated assets in the stock market. D. the British government.