Minimum-wage laws
a. create unemployment.
b. do not apply in states with right-to-work laws.
c. affect highly-educated workers more than high school dropouts.
d. cause labor shortages, which further raise wages above equilibrium.
a
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Suppose an insurance company has estimated that 20 percent of all of its potential policy owners are high-cost and sets a price for their insurance policy with the understanding that 20 percent of its policy owners will be high-cost. If the true percentage of high-cost potential policy owners is 40 percent, the insurance company is likely to face ________.
A) moral hazard B) the principal-agent problem C) adverse selection D) the bad apple problem
Transactions accounts allow for direct payment to a third party.
Answer the following statement true (T) or false (F)
What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work. B. All of our jobs have been shipped overseas. C. Tax cuts on the property owners and high income citizens. D. High cost of health care.
Cost of living adjustments in labor contracts offer no protection to workers from unexpected inflation.
Answer the following statement true (T) or false (F)