In an unregulated labor market, the wage adjusts to balance labor supply and labor demand
a. True
b. False
Indicate whether the statement is true or false
True
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When a company is very dependent on firm-specific human capital, it makes sense for the company to
A. use only benchmark competitive wage rates. B. develop programs for sending employees to the local university. C. create an extensive internal labor system for career advancement. D. offer compensating differentials for unpleasant jobs.
Which of the following is an advantage of the European Monetary Union?
A. Increased cost of exchanging currencies B. A higher likelihood of conflict between members C. Increased monetary independence for each member D. Increased price transparency
In a ________ economy, the behavior of buyers and sellers determines what gets produced, how it is produced, and who gets it.
A. laissez-faire B. socialist C. utopian D. command
Terrorism insurance is much more likely to be available where
A. insurance is highly regulated. B. terrorism has never occurred. C. terrorism is a relatively predictable thing. D. insurance of any kind is rare.