An activity known as shirking is least likely to occur when
a. workers are not monitored.
b. all workers are paid the same wage rate.
c. the earnings of workers are closely tied to the worker's output.
d. the firm is organized as a corporation.
C
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The U.S. economy is the largest in the world. What two factors primarily explain this? What makes the U.S. economy unique?
What will be an ideal response?
An increase in income causes compensated demand curves to shift inward and regular demand curves to shift outward.
Answer the following statement true (T) or false (F)
Which of the following firms is not able to practice price discrimination?
A) commercial airlines B) the largest wheat farmer in Nebraska C) land-line telephone companies D) movie theaters
When a market is characterized by an externality, the government
a. can correct the market failure only in the case of positive externalities. b. can correct the market failure only in the case of negative externalities. c. can correct the market failure in the case of both positive and negative externalities by inducing market participants to internalize the externality. d. cannot correct for externalities due to the existence of patents.