implicit contracts are employment contracts that stipulate workers' wages for a specific period of time, usually 1 to 3 years.
Answer the following statement true (T) or false (F)
False
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A situation is efficient if it is:
A. not possible to find a transaction that will make at least one person better off without harming others. B. possible to find a transaction that will make everyone better off. C. possible to find a transaction that will make at least one person better off, even if others are made worse off. D. possible to find a transaction that will make at least one person better off without harming others.
In the case of a linear demand curve, average revenue is equal to price, while (with the exception of Q = 1 ) marginal revenue is less than price
Indicate whether the statement is true or false
The minor league system in professional baseball can be thought of as a
A) screening tool. B) signaling tool. C) form of statistical discrimination. D) being used for the wrong reasons.
In the late 18th century, England:
a. passed laws prohibiting the export of new industrial machinery. b. tried to discourage labor pirating. c. was the second largest producer of manufactured goods in the world. d. successfully prevented technology transfer to the U.S. e. Both a and b are correct.