Two events A and B in a sample space are considered _____ if the probability that A will happen is the same regardless of whether or not B has happened
a. conditional
b. correlated
c. independent
d. exclusive
C
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A firm may pay efficiency wages in an attempt to
a. entice workers to work the night shift rather than the day shift. b. improve productivity by reducing turnover. c. reduce costs by attracting the least-skilled workers to apply for job vacancies. d. All of the above are correct.
An economic naturalist is someone who:
A. studies the process of natural selection in a cost-benefit framework. B. has an innate talent for using economic concepts. C. applies economic insights to understand everyday life. D. uses economic arguments to protect the environment.
Marc is a high school graduate and currently works as a corrections officer at a local prison. He would like to go back to school to train to become a police officer someday. The best way to describe Marc is to say he is:
A. underemployed. B. a discouraged worker. C. unemployed. D. employed.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.