Revenue sharing tries to induce worker effort by linking:
A. worker output to revenues.
B. worker compensation to revenues.
C. worker output to profits.
D. worker compensation to profits.
Answer: B
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A reduction in the demand for labor will cause
A. wages to increase and employment to decrease. B. wages to decrease and employment to increase. C. wages to increase and employment to increase. D. wages to decrease and employment to decrease.
You are running a small yard maintenance business for the summer. What do you expect to happen to the number of yards you can maintain in a day as you add workers if you don't purchase more capital equipment (like mowers and leaf blowers)?
What will be an ideal response?
If everyone in the economy correctly anticipates the inflation rate, the unemployment rate
A) will be the natural rate of unemployment. B) will be the cyclical rate of unemployment. C) will be inversely related to the expected inflation rate. D) will be positively related to the expected inflation rate.
The economic efficiency approach to emission control provides the polluting firm with
a. a license produce as much emissions as it wants b. the option of choosing between focusing on profit or cost c. a process for determining the optimum quantity of emissions d. more flexibility in selecting the most cost effective method of control e. a subsidy for producing additional emissions