According to Nobel laureate Ronald Coase, firms exist in order to
A) maximize transactions costs.
B) minimize transactions costs.
C) maximize transactions.
D) employ workers.
B
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Which of the following factors tends to lower the average wages for women?
a. Women leaving the workforce to raise their children b. Women receiving less than one-third of all advanced degrees c. Fewer women earning college degrees than in the past d. Fewer women seeking experience in the service industry
Moral hazard takes place ______.
a. when a person cannot buy insurance b. when a person tries to be more cautious c. before a person becomes insured d. after a person has bought insurance
If the Consumer Price Index was 166.6 in one year and 172.2 in the next year, then the rate of inflation from one year to the next was:
a. 5.4% b. 4.1% c. 3.4% d. 6.0%
The most commonly used negative incentive used by firms is:
A. temporary layoffs. B. dismissal. C. verbal reprimands. D. unpaid suspensions.