Adverse selection is more likely when
a. a job requires specific training
b. a job requires intangible or unmeasurable abilities
c. the wage offered is above the average of all wages in the market
d. the wage is based on true marginal revenue products
e. performance can be monitored closely
B
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This national income accounting rule guarantees that total product exactly equals total expenditure on that product:
A) changes in inventories count as expenditures. B) changes in inventories do not count as expenditures. C) depreciation of capital is subtracted from investment. D) total product is the sum of values added.
According to the 1790 census, the majority of whites had links to
(a) the British Isles, thus explaining why British institutions were selected to guide development and growth in the colonies. (b) Germany, thus explaining why German institutions were selected to guide development and growth in the colonies. (c) Spain, thus explaining why Spanish institutions were selected to guide development and growth in the colonies. (d) Madagascar and Zanzibar, thus explaining why institutions from Madagascar and Zanzibar were selected to guide development and growth in the colonies.
When aggregate expenditure falls short of the level needed to generate a full- employment, noninflationary equilibrium, then a recessionary gap exists
Indicate whether the statement is true or false
A firm in monopolistic competition needs ________ market share to qualify as a firm in monopolistic competition
a. no less than 50 percent b. no less than 10 percent c. no more than 5 percent d. no more than 1 percent e. there is no specific percentage