Which of the following categories of business cycle theories includes the rational expectations theory?
a. physical
b. monetary
c. psychological
d. spending and saving
c. psychological
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According to the principle of comparative advantage, if a rich country trades with a poor country, then
A) the rich country will benefit and the poor country will lose. B) the rich country will lose and the poor country will benefit. C) both countries will benefit. D) neither of the countries will benefit.
One of the benefits of the Hay System is that it can be used to
A. assign a task to each employee on the basis of seniority. B. determine the level of compensating wage differentials in risky jobs. C. determine the optimal mix of salary and fringe benefits. D. assign a position to each job within a firm's hierarchy.
_____ has a causal effect on _____.
A. Income; unemployment B. Height; health C. Income; consumption D. Age; wage
Entrepreneurs serve a different purpose compared to a manager
Indicate whether the statement is true or false