An efficient contract is an agreement in which
A) neither party can be made better off without harming the other party.
B) both parties agree on its clauses.
C) one party takes all.
D) both parties agree to always do their best.
A
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The term "early adopters" refers to
A) consumers who respond quickly to fads, seasonal changes, etc. B) consumers who are willing to pay high prices to be among the first to own new products. C) firms that are the first to implement a new technology that is used to produce new goods or services. D) book clubs that are first to recommend best-selling books to their members.
If there is an exogenous increase in investment spending, Monetarists argue that there would be little or no effect on real output because the interest rate would __________,
investment would __________, saving would __________, and consumption would __________. A) decline; increase; increase; decrease B) decline; increase; decrease; increase C) rise; decrease; decrease; increase D) rise; decrease; increase; decrease
According to proponents of the signaling theory of education, an increase in the education levels of all workers would
a. increase workers' productivity and increase their wages. b. increase workers' productivity but leave their wages unaffected. c. leave workers' productivity unaffected but increase their wages. d. leave workers' productivity and wages unaffected.
Demand-pull inflation occurs when
What will be an ideal response?