When relatively few workers have high ability,
A) they will settle for the average wage.
B) they will want to signal their ability.
C) the premium for high ability is less than when most workers have high ability.
D) they do not need to signal their ability.
B
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On the production possibilities curve, a movement between points that yields a loss of one good in order to raise the output of another good will maintain efficient production
a. True b. False Indicate whether the statement is true or false
Downward-Slope of yield curve (inverted) so expect ____________ interest rates
Fill in the blank(s) with the appropriate word(s).
Macroeconomics is concerned with studying the
A) behavior of individual decision makers. B) performance of the economy as a whole. C) prices of specific companies' stocks. D) wants of individual consumers.
Related to the Economics in Practice on page 218: A study discussed in the Economics in Practice found that NFL teams that trade two lower draft picks for one higher pick tend to ________ player productivity and therefore ________ for that pick in terms of the draft-pick trade.
A. underestimate; underpay B. overestimate; overpay C. overestimate; underpay D. underestimate; overpay