In which of the following situations should a firm pay efficiency wages?
a. A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.
b. A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs.
c. A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs.
d. A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.
c
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Fiat money has
A) little to no intrinsic value but is backed by the quantity of gold held by the central bank. B) little to no intrinsic value and is authorized by the central bank or governmental body. C) value, because it can be redeemed for gold by the central bank. D) a great intrinsic value that is independent of its use as money.
Which of the following would cause the money demand curve to shift to the left?
A) a decrease in real GDP B) an increase in the interest rate C) an increase in the price level D) an open market purchase of Treasury securities by the Federal Reserve
Which of the following describes the relationship between net investment and total investment?
a. Net investment = total investment - depreciation b. Total investment = net investment + private investment - depreciation c. Net investment = government investment - private investment - depreciation d. Total investment = net investment - depreciation e. Net investment = government investment - depreciation
Microeconomics is best described as the study of:
A. the choices made by individual households, firms, and governments. B. inflation, unemployment, gross national product, and the nation's economy as a whole. C. how markets interact in the aggregate economy. D. marginal changes in the economy.