If the minimum wage is set above the market clearing wage, wages will be "sticky" in the downward direction.
Answer the following statement true (T) or false (F)
True
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Which labor market statistic tends rise during recessions and fall during expansions?
A) the unemployment rate B) the labor-force participation rate C) the employment-to-population ratio D) aggregate hours
Pirates have been intensely attacking ships off the shore of Somalia this year. Boat owners have reportedly coughed up more than $30 million in ransom and insurance premiums have shot up
The pirate activity and increase in premiums means that the expected wealth of boat owners who sail near Somalia is ________. A) decreasing B) increasing C) staying the same D) decreasing only if they have insurance
If a player has a dominant strategy, that player will always win the game.
Answer the following statement true (T) or false (F)
Credit risk is:
A. lower, the longer the length of the loan. B. the risk of a borrower defaulting on a loan. C. the risk of not being able to get a loan when your credit is good. D. lower, the larger the amount of the loan.