Microeconomic models focus on the behavior of
a. all households, businesses, and government sectors at the same time
b. the household sector as a whole
c. individual households and business firms
d. individual households, business firms, and government agencies
e. the business and government sectors
D
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Figure 33-7
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In Figure 33-7, the case for restrictive monetary and fiscal policy is strongest at point
A. A. B. B. C. C. D. D.
Commitment devices are:
A. mechanisms that allow people to voluntarily restrict their choices in order to make it easier to stick to plans. B. socially institutionalized practices that signal a particular commitment has been made by a person. C. policies that force participants to choose their future commitments. D. None of these statements is true.
One way to avoid the principal-agent problem would be to have:
A. the employer constantly monitor the employee's efforts. B. the employee sign a waiver of release. C. the employer share all management choices with employees before making decisions. D. the employee constantly monitor the employer's activities.
A union wants to increase its members’ wages without reducing employment. Which of the following strategies might achieve that goal?
A. Setting a high minimum wage rate for its members B. Increasing the number of members in the union C. Pushing employers not to allow featherbedding of workers D. Training its members to work more productively