Wearing a suit to a job interview is an example of a:
A. negative signal.
B. negative screen.
C. positive screen.
D. positive signal.
Answer: D
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Two players are playing a game. Player 1 is given $100 and is asked to offer a certain share of the money to Player 2. Player 2 can then choose to accept or reject the offer
If he accepts the offer, the money will be split between the two players in the ratio as decided by Player 1. If he rejects the offer, neither of the players will get anything. a) Assume that both players prefer more money to less. How would Player 1 choose his optimal strategy in this case? b) If Player 2 prefers fairness to money, how will his decision change?
Refer to Table 15-1. What is the firm's profit-maximizing output and what is the price charged to sell this output?
A) P = $65; Q = 14 B) P = $70; Q = 13 C) P = $80; Q = 11 D) P = $85; Q = 10
Business cycles can be described as
a. fluctuations around a long-term growth trend. b. changes in economic activity due to natural causes. c. increases in the level of business activity over an extended period of time. d. changes in business activity due to wars.
The demand for the product of a competitive price-taker firm is:
A. perfectly inelastic. B. perfectly elastic. C. greater than zero but less than one. D. dependent on the availability of substitutes for the firm's product.