A model in which workers won't be concerned about the possibility of being fired if they don't work hard, because their wage is so low, is called
A. a gift-exchange model.
B. a cost-benefit model.
C. a job-stress model.
D. a shirking model.
Answer: D
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As a currency depreciates:
A) exports increase and imports decrease. B) exports decrease and imports increase. C) exports increase and imports increase. D) exports decrease and imports decrease.
The GDP figure does not accurately reflect economic welfare because
a. it does not include non monetary transactions. b. the value of goods produced in the home is usually overstated. c. it includes only consumption goods and services. d. it usually includes an overstated estimate of social costs.
If the government collects $10,000 in tax revenue and turns around and spends $10,000 to build a new road, and the MPC is 0.5, national income
a. is unchanged b. increases by $5,000 c. increases by $10,000 d. increases by $15,000 e. increases by $20,000
If a firm's total revenue is $112 when it sells 16 units, $119 when it sells 17 units and $126 when it sells 18 units, then the firm is:
A. an imperfectly competitive firm. B. only an imperfectly competitive firm if it sets MR=MC. C. either a perfectly or imperfectly competitive firm. D. a perfectly competitive firm.