For the use of the employee’s participation in production, an employee receives
a. wages.
b. rent.
c. interest.
d. profit.
a. wages.
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If firms successfully gather information about consumers before offering them insurance, and if this leads to a separating equilibrium, efficiency is restored.
Answer the following statement true (T) or false (F)
If Molly Bee increases her work hours when her wage increases, then
A) the substitution effect of the wage increase outweighs the income effect. B) the income effect of the wage increase outweighs the substitution effect. C) leisure is an inferior good to Molly. D) Molly is spending beyond her means.
Financial innovations that grew out of the bank branching restrictions were
A) bank holding companies and automated teller machines. B) bank holding companies and securitization. C) automated teller machines and sweep accounts. D) automated teller machines and bank credit cards.
Compared to the 19th century, the population of the 20th century
(a) was largely urbanized. (b) was 3.7 times larger in number. (c) experienced a 63 percent increase in life expectancy at birth. (d) can be described by all of the above.