Employers verify the facts of potential employees' resumes to avoid
A) signaling.
B) screening.
C) cheap talk.
D) moral hazard.
C
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A perfectly competitive firm's supply curve
A) shows the relationship between the price and the quantity the firm will produce. B) is the portion of the marginal cost curve above the average variable cost curve. C) is upward sloping. D) All of the above are correct.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. The slope of budget constraint AC is
A. -5.0. B. -2.0. C. -0.5. D. indeterminate from this information because prices are not given.
Price wars among firms
A. Tend to reduce short-run price stickiness because firms know they can lower their own prices without rival firms lowering their prices B. Occur when one firm lowers its price and rival firms react by lowering their prices C. Occur when firms use advertising to take customers away from rival firms D. Have no impact on the degree of short-run price stickiness
Average productivity will fall as long as
A) marginal productivity is falling. B) it exceeds marginal productivity. C) it is less than marginal productivity. D) the number of workers is increasing.