You own an ice cream store and are concerned that an employee may be giving generous scoops to friends and relatives and smaller scoops to some other customers. This may be reducing sales. If you want your employee to stop giving larger scoops to friends and relatives, which of the following is not a good approach?
a. Make visits to the store at the same time each day.
b. Pay employees an above equilibrium wage.
c. Give your employees a monthly bonus based on profits.
d. None of the above are good approaches.
a
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For a perfectly competitive sugar producer in Haiti, a short-run economic profit will occur if the price of each ton of sugar sold is
A) greater than the average total cost of producing sugar. B) equal to the average total cost of producing sugar. C) less than the average total cost of producing sugar. D) rising as more sugar is sold. E) greater than the marginal revenue of each ton of sugar.
According to the neoclassical growth theory
A) increases in labor productivity are only temporary. B) technological change depends on people's choices. C) forces other than GDP growth determine population growth. D) higher saving rates generate permanently faster growth in GDP per person.
The "effectiveness lag" in monetary policy is the amount of time it takes
A) to collect the data to determine if a policy change is required. B) for monetary policy to have an impact on inflation and unemployment. C) for monetary policy to affect the money supply. D) to collect the data to determine what effect monetary policy has had on the economy.
One advantage of emissions permits is that they allow the government to choose the level of pollution reduction.
Answer the following statement true (T) or false (F)