Under the Soviet system of communism,
A) technological progress was slow because managers had little incentive to develop new technologies.
B) managerial pay was determined by the extent to which managers could lower the per-unit costs of production.
C) the per-worker production function in the Soviet Union shifted up more rapidly than production functions in other countries.
D) competitive pressures in the Soviet Union allowed the country's technological progress to keep pace with the rest of the world.
A
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Price ceiling/ cap
What will be an ideal response?
A. a firm may realize excessively large profits. B. workers may provide less-than-expected work effort. C. compensating wage differences do not pay for differences in the nonmonetary aspects of jobs. D. human capital investments vary among
workers. A. principals and agents share a common interest, leading to free-rider problems. B. principals and agents are in an adversarial role, sharing no common interests. C. principals pursue some of their own objectives, which may conflict with the objectives of the agents. D. agents pursue some of their own objectives, which may conflict with the objectives of the principals.
If the production of a good generates a detrimental externality, then at that level of production of the good under perfect competition,
a. MU = MSC. b. P < MPC. c. MPC < MSC. d. MPC > MSC.
Compared to those with higher incomes, low-income families are more likely to
a. be headed by a person between 35 and 55 years of age. b. have both a husband and a wife in the labor force. c. be single-parent families. d. be headed by a college graduate.