A _______ is an enforceable claim on a good or service.
A. deed
B. government decree
C. price
D. property right
D. property right
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Globalization and skill-biased technological change have contributed to:
A. increasing wage inequality. B. the long-term growth in real wages. C. the slowdown in productivity since 1973. D. high rates of employment in Western Europe.
The maximum total economic profit that can be made by colluding duopolists
A) is less than the economic profit made by a monopolist. B) equals the economic profit made by a monopolist. C) exceeds the economic profit made by a monopolist. D) bears no necessary relation to the economic profit made by a monopolist.
Describe the four functions of money. Must all money fulfill all four functions?
What will be an ideal response?
Employers rely on a job applicant's signals
a. because they are always an accurate indication of the applicant's skills b. because actual abilities are not observable prior to employment c. because actual abilities are not observable after the applicant is hired d. only when hiring someone for an entry-level position e. only when hiring someone who has a college degree