When rates of pay and job assignments are determined by administrative rules and implicit promises of management, then a firm is operating in a(n)
A. internal labor market.
B. competitive labor market.
C. risk-sharing market.
D. human capital market.
Answer: A
Economics
You might also like to view...
Consider the labor market below. 
If a minimum wage of $12 per hour is imposed in this labor market, then:
A. 400 workers will earn $12 an hour. B. total earnings will rise C. worker surplus will fall. D. 200 workers will lose their jobs.
Economics
When the rate of interest in the economy falls, there will be
A) an increase in the market price of existing bonds. B) a decrease in the transaction demand for money. C) less investment by businesses. D) an increase in nominal Gross Domestic Product (GDP).
Economics
In the above figure, the optimal level of pollution cleanup is
A) Q1. B) Q2. C) Q3. D) Q4.
Economics
Entrepreneurship
What will be an ideal response?
Economics