If the price elasticity of supply is 0.5 and the quantity supplied decreases by 6%, then the price must have decreased by 3%

Which of the following involves signaling?

a. high wage rates attracting a larger pool of applicants for a job b. firms taking advantage of outsourcing when transactions costs are low c. reporting one's college GPA on a resume d. paying higher wages to workers who produce more e. requiring the sales staff to work strictly on commission

The U.S. dollar is backed by gold

a. True b. False Indicate whether the statement is true or false