Which of the following is not a common response to the moral hazard problem that employers face?
a. offering all employees some funding for additional education
b. paying efficiency wages
c. requiring employees to provide itemized receipts for reimbursable expenses
d. paying year-end bonuses rather than higher monthly earnings
a
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What is the natural unemployment rate?
What will be an ideal response?
In-kind transfers can be justified over cash transfers on the grounds that _____
a. they give the recipients higher utility b. they have lower administrative costs c. they are more equitable than in-kind transfers d. taxpayers prefer them
Which of the following is considered a "third party" within the medical services industry?
A) the patient B) the private insurance company C) the for-profit hospital D) the medical provider, i.e., physician
Which of the following would be classified as an innovation?
a. Edwin H. Land perfects the single-step photographic process in 1947. b. Polaroid markets the single-step film in 1948. c. Thomas Alva Edison perfects the incandescent lamp with carbon filament in 1879. d. In 1803, Robert Fulton constructs his first small steamboat in Paris.