Which of the following would be most likely to receive high economic rent payments?
A) farmer
B) professional baseball player
C) factory worker
D) school teacher
Answer: B
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To keep employees from shirking, you can invest in greater monitoring
a. even though monitoring is expensive b. especially when monitoring is efficient c. when employees respond well to incentive contracts d. when incentives solve both moral hazard and adverse selection problems with employees
Demand is defined as
A. a specific quantity of a good or service that people will purchase at one particular price of another item during a specified time period, other things being constant. B. a schedule of how much of an item people will purchase at any particular price of that item during a specified time period, other things being constant. C. a specific quantity of an item that people want at a particular price of that item during a specified time period, other things being constant. D. a schedule of how much of a good or service people will purchase at any particular price of a different item during the specified time period, other things being constant.
What does it mean to say the United States has a dual banking system?
What will be an ideal response?
A decrease in interest rates will cause
A. AS to increase (move down and to the right). B. AD to increase (move to the right). C. AS to decrease (move up and to the left). D. AD to decrease (move to the left).