In a very basic principal-agent model, output is contractible if:
A. the employee works in a team.
B. the employee produces many products.
C. output can be observed with some positive cost.
D. the employee produces a single output.
Answer: D
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Consider the market for turkeys. In the United States, because of Thanksgiving in the month of November,
A) there is a downward movement along the demand curve for turkeys. B) there is an upward movement along the supply curve for turkeys. C) the supply curve of turkeys shifts leftward. D) the demand curve for turkeys shifts leftward. E) neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
Describe and explain the three principle methods of financing used by corporations
What will be an ideal response?
If technological change occurs in the economy
A) the long-run aggregate supply curve will shift to the right. B) the long-run aggregate supply curve will shift to the left. C) we will move up along the long-run aggregate supply curve. D) we will move down along the long-run aggregate supply curve.
Which of the following statements is true?
A. If the United States imposes a tariff on Swiss chocolate imports, the price of chocolate in the Switzerland is likely to increase. B. If Switzerland imposes a "voluntary export restraint" on chocolate exports to the United States, the price of chocolate in the United States is likely to decrease. C. If the United States imposes a quota on Swiss chocolate imports, the price of chocolate in the United States is likely to increase. D. all of the above