If a person is entertained by gambling, then
A) she is not risk averse.
B) she does not understand the concept of a fair game.
C) she may gamble even if it is an unfair game.
D) she will definitely not buy automobile insurance.
C
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You decide to work in London for the next 5 years, accumulate some savings, then move back to the United States and convert your savings from British pounds to dollars
At the time of your move, economists predict that consumers in the United States have lost their affinity for British products, and expect that this declining preference for British products will continue for the next decade. How should this influence your decision to work and save in London? A) You should be discouraged as the declining U.S. preference for British goods should decrease the value of the pound to the dollar and decrease the value of your savings when converted to dollars. B) You should be discouraged as the declining U.S. preference for British goods should increase the value of the pound to the dollar and decrease the value of your savings when converted to dollars. C) You should be encouraged as the declining U.S. preference for British goods should decrease the value of the pound to the dollar and raise the value of your savings when converted to dollars. D) You should be encouraged as the declining U.S. preference for British goods should increase the value of the pound to the dollar and raise the value of your savings when converted to dollars.
Refer to Table 4-4. If a minimum wage of $10.50 is mandated there will be a
A) surplus of 30,000 units of labor. B) surplus of 60,000 units of labor. C) shortage of 60,000 units of labor. D) shortage of 30,000 units of labor.
Stock options do not eliminate the principal-agent problem entirely for each of the following reasons except which one?
A) A company's profit depends on the actions of all employees. B) A company's stock prices fluctuate for reasons not directly related to a company's profit. C) A company's stock price rarely changes. D) A company's executive does not have unlimited control over all employees and their actions.
Membership in unions in the United States
a. is slightly over 90 percent of all workers b. has declined steadily since 1980 c. was hindered by laws such as the Wagner Act d. can be a grounds for an employer to fire an employee e. reached an all-time high in 1998