Most foreign exchange is handled through voice brokers.
a. true
b. false
b. false
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Suppose a plaintiff hires a lawyer to represent her in a court case. To which of the following contracts would a highly risk-averse plaintiff agree?
A) The lawyer is paid by the hour. B) The lawyer receives a share of the settlement. C) The lawyer receives a fixed fee. D) The lawyer pays the client a fee for the right to the entire settlement.
If we consider the reality that each worker has different skills, then the production possibilities frontier would:
A. have a convex shape. B. have a concave shape. C. be a straight line. D. shift outward.
What aspects of bargaining can affect market outcomes?
What is meant by equilibrium wage (W*)?
a. wage at the point of diminishing marginal product b. median cost of labor, with half making more and half less c. price of labor at the level where supply and demand meet d. fair wage without consideration of supply or demand