What is the percentage of income received by the lower three quintiles on line K?
30
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Information gathering for an adverse selection happens
a. Before the agent is hired b. After the agent is hired c. After the agent is fired d. None of the above
Suppose that a company hires recent college graduates for two types of jobs, sales people and credit analysts. The hours worked and skill levels are the same for both positions. The sales people must "cold call," which many people find to be unpleasant. When comparing the salaries of the two positions, it is likely that the company pays the
a. credit analysts more as a compensating differential. b. sales people more as a compensating differential. c. same salary for both positions because they require the same skill level. d. same salary for both positions because it would be illegal to do otherwise.
The demand for labor determines the
A. Minimum wage rate. B. Total number of people who want to work. C. Willingness and ability of people to work at alternative wage rates. D. Number of available jobs.
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $6, there is an excess
A. supply of 700 pizzas. B. demand of 600 pizzas. C. demand of 300 pizzas. D. supply of 1,000 pizzas.