Which of the following is an example of a disincentive?
A. Law enforcement creates a "Mug Shots" section online in order to discourage potential law breakers.
B. You offer workers a bonus if they sell 100 widgets per month.
C. A local gym offers a weight loss competition and the winner earns a free trip to Bermuda.
D. Your professor offers to edit your paper before it's graded if you turn it in early.
A. Law enforcement creates a "Mug Shots" section online in order to discourage potential law breakers.
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In the modern Keynesian model, velocity
a. varies positively with the level of the interest rate but not with income. b. varies positively with the level of the interest rate and with income. c. is constant. d. varies in the short run but is constant in the long run. e. none of the above
Burns (1934) argued that retardation and decline in some industries are
(a) healthy for a growing and developing economy because resources are released for use in productive sectors. (b) healthy only for the competitors of the declining industries. (c) unhealthy for a growing economy because resources are idle in the declining industries. (d) unhealthy for a growing economy because the released resources are used unproductively by the competitors of the declining industries.
The "no shirking constraint" (NSC) curve never crosses the supply of labor curve, so
A) the market never reaches equilibrium. B) there is always full employment in equilibrium. C) there is always some unemployment in equilibrium. D) the efficiency wage is always lower than the market-clearing wage. E) the gap between the NSC curve and the supply of labor curve equals the difference between the efficiency wage and the market-clearing wage.
When the exchange rate fluctuates around a fixed central target, allowing for a moderate amount of fluctuation, while tying the currency to the target central rate, the exchange rate is under a(n):
a. horizontal band. b. crawling peg. c. managed float. d. independent float. e. currency board.