Refer to Figure 10-6. A change in income is shown in
A) Panel A. B) Panel B.
C) Panel C. D) none of the above panels.
B
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The ways to address agency costs include
a. gathering information about the agent's characteristics before hiring b. gathering information about the agent's actions once hired c. incentivizing agents to work on behalf of principals d. all of the above
Andy observes that the income distribution between the richest and poorest people in the population has remained fixed for decades. He concludes that the rich stay rich and the poor stay poor. Is this a valid conclusion, or has Andy missed something?
Equilibrium:
A. Will only occur at full employment. B. Can occur at any output level. C. Will occur at or below full employment. D. Will occur at or above full employment.
If in late 2016 100 U.S. dollars exchanged for 118 euros and in mid-2017 100 U.S. dollars exchanged for 127 euros, then:
A. American goods became more expensive to Americans. B. European goods became more expensive to Americans. C. the dollar appreciated relative to the euro. D. the euro appreciated relative to the dollar.