The money income of households consists of all the following, except
What will be an ideal response?
revenues
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Vesting refers to
A) the right of the holder of an insurance policy to collect for an insurable event. B) the shielding of returns on whole life policies from taxation. C) the length of service required of an employee before he or she is eligible for a pension. D) the payments made by an employee into a pension plan.
To keep employees from shirking, you can invest in greater monitoring
a. even though monitoring is expensive b. especially when monitoring is not very efficient c. when employees respond well to incentive contracts d. when incentives fail to solve either moral hazard and adverse selection problems with employees
We benefit from trade if we are able to obtain a good from a foreign country:
a. that has a very low domestic demand. b. the production of which requires a steady supply of unskilled labor. c. by giving up less of other goods than we would have to give up to obtain the good at home. d. by giving up more of other goods than we would have to give up to obtain the good at home. e. that has a substantial number of substitutes in the domestic market.
The total producer surplus enjoyed by all sellers in a market
a. exceeds the market price b. is measured by the area below the market supply curve c. is called market producer surplus d. is the area below the market demand curve minus the area below the market supply curve e. is the area below the market supply curve minus the area below the market price