The sticky-wage model argues that those already working for firms are "insiders," while new employees, at least for a time, are "outsiders."
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In the above figure, if the price is $12 per unit, how many units will a profit maximizing perfectly competitive firm produce?
A) 0 B) 20 C) 30 D) 35
What is the central role of financial intermediaries in a market economy?
A) keeping the price level stable B) bringing together savers and borrowers C) providing safe deposit boxes for people and businesses D) the creation and printing of money
Suppose the cost of flying a 200-seat plane for an airline is $100,000 and there are 10 empty seats on a flight. If the marginal cost of flying a passenger is $200 and a standby passenger is willing to pay $300, the airline should
a. sell the ticket because the marginal benefit exceeds the marginal cost. b. sell the ticket because the marginal benefit exceeds the average cost. c. not sell the ticket because the marginal benefit is less than the marginal cost. d. not sell the ticket because the marginal benefit is less than the average cost.
Which of the following is most important for the achievement of higher income levels and living standards?
a. production of additional goods and services that people value highly relative to the cost of their production b. increases in government spending that create jobs c. restriction of imports that expand employment in the protected industries d. an increase in total employment