Which of the following would NOT be used by firms to deter shirking?
A) requiring employees to post a bond
B) offering a bonus after five years of service
C) paying more than the market wage
D) paying less than the market wage
D
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Anita is the retired president of Claddagh College and currently serves on the board of directors of the Patrician Pharmaceutical Company. Anita is considered ________ of the company
A) a silent partner B) an outside director C) a managing director D) an inside director
The "perfect information" assumption of perfect competition includes all of the following except one. Which one?
A) Consumers know their preferences. B) Consumers know their income levels. C) Consumers know the prices available. D) Consumers can anticipate price changes. E) Firms know their costs, prices and technology.
Suppose the quantity demanded of ice cream cones increases from 400 to 425 cones a day when the price is reduced from $1.50 to $1.25. In this situation, the elasticity of demand, calculated using the average method, is
A) 3. B) 1. C) 0.33. D) 1.33.
Other fundamental things being equal, an increase in the exchange-rate value of the domestic currency will cause the current account to
A. become smaller than the (nonofficial) financial account. B. move toward a deficit. C. move toward a long-run equilibrium. D. become more unbalanced.