Why would a firm knowingly hire lazy employees?
A) Lazy employees have positive marginal revenue product.
B) Lazy employees have successfully sued firms in the past.
C) The Americans with Disabilities Act mandates that laziness be considered a disability.
D) Lazy employees make hard-working employees look good.
A
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Under a strict liability standard, the person who causes an accident is liable
a. whether or not he has been negligent. b. if he could have prevented the accident at a cost less than the damages caused. c. if he could have prevented the accident at a cost less than the damages caused times the probability of the accident's occurrence. d. unless the plaintiff could have prevented the accident at a cost less than the damages incurred times the probability of the accident's occurrence.
The adverse selection problem is a likely explanation for the fact that
a. some parents use video cameras to monitor the nannies caring for their children. b. some corporate managers were recently sent to prison for enriching themselves at the expense of shareholders. c. people in average health may be discouraged from buying health insurance by the high price. d. gifts can be interpreted as signals.
Suppose that during the Great Depression long-run aggregate supply shifted left. To be consistent with what happened to the price level and output, what would have had to happen to aggregate demand?
a. It would have to have shifted left by less than aggregate supply. b. It would have to have shifted left by more than aggregate supply. c. It would have to have shifted right by less than aggregate supply. d. It would have to have shifted right by more than aggregate supply.
One of the risks of maturity transformation is that:
A) it can increase the rate of inflation. B) it reduces the profitability of banks. C) it can lead to bank runs. D) it discourages savings.