A solution to the budget-gaming problem is
a. Remove all kinks from the compensation schedule
b. Use a target based pay function with each target scoring greater return
c. Base compensations on meeting particular budget goals
d. All of the above
a
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We have drawn the SAS and SP curves as straight lines for convenience. More realistically, rising output ________ the structural unemployment problem and the effect of this on wages causes those curves to ________ in slope
A) aggravates, increase B) aggravates, decrease C) alleviates, increase D) alleviates, decrease
Other things being equal, an increase in the rate of interest causes a(n):
a. upward movement along the demand for money curve. b. downward movement along the demand for money curve. c. rightward shift of the demand for money curve. d. leftward shift of the demand for money curve.
Economic rents can lead to large wage differentials
a. True b. False Indicate whether the statement is true or false
In a market where the forces of demand and supply operate without government intervention, the market price will
A. always be the equilibrium price. B. generally stay above the equilibrium price. C. generally stay below the equilibrium price. D. tend toward the equilibrium price.