Homogeneous products are indistinguishable from one another.
Answer the following statement true (T) or false (F)
True
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The development of human capital
A) is a form of investment. B) enhances economic growth, but the individuals acquiring the capital are not made better off themselves. C) does not appear to enhance economic growth. D) enhances economic growth, but it does not improve the productivity of the labor force.
The existence of adverse selection results in:
A) reduced market efficiency B) an increase in the likelihood of moral hazard C) increase market transactions D) higher transaction costs
According to supply-siders, an switch from taxing income to taxing consumption to will
a. lead to a permanent increase in output-per-worker. b. lead to a temporary increase in output-per-worker. c. lead to a decline in output-per-worker. d. not change output-per-worker.
The reason we study the non-strategic sequential labor negotiation game:
a. Is to show that these games usually go on for many rounds b. Is to show the importance of the first mover being able to commit to an offer c. Is to show the importance of the second mover being able to commit to an offer d. Is to show the irrelevance of mover position, given that he is able to commit to a position