The following is NOT an example of a potential monitoring solution to moral hazard
a. blocking social network sites on company computers
b. closed circuit TVs throughout a warehouse
c. requiring a kitchen remodeling contractor to be 'bonded'
d. listening in on call center conversations
c
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If a good is normal and its price decreases,
a. the income effect will be positive and the substitution effect will be positive. b. the income effect will be negative and the substitution effect will be negative. c. the income effect will be positive and the substitution effect will be negative. d. the income effect will be negative and the substitution effect will be positive.
Within the framework of economics, optimization means providing a good or service until:
a. total benefits and total costs are equal. b. total benefits are maximized. c. total benefits are greater than total costs. d. marginal benefits exceed marginal costs by the greatest amount possible. e. marginal benefits and marginal costs are equal
Consider the following payoff matrix facing Harry and Sally when each chooses to go to the coffee shop listed. Both Harry and Sally would like to meet each other but are shy about asking the other out on a date. Harry StarbucksDunkin DonutsSally StarbucksH: 1, S: 1H: 0, S: 0 Dunkin DonutsH: 0, S: 0H: 1, S: 1What is Harry's best strategy?
A. Harry has no best strategy. B. Stay at home. C. Go to Starbucks. D. Go to Dunkin' Donuts.
Of what use is national income accounting to economists and to policy makers?
What will be an ideal response?