Which of the following can best be characterized as a "Black Swan" event?
A) decline in stock prices due to a recession
B) rising market interest rates as the Fed tightens monetary policy
C) a financial crisis causing credit to dry up
D) an individual firm unexpectedly filing for bankruptcy
C
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A potential problem arises in principal-agent relationships
a. because the agents and the principals have identical goals b. because the principals may have different goals from the agents c. because the agents may have different goals from the principals d. the goals of principals and agents are irrelevant
If the wage rate is $5 per hour, regardless of how many laborers are employed, the
a. total labor cost curve is horizontal b. total labor cost curve is upward sloping c. MPP must be constant d. total labor cost curve will increase at an increasing rate e. total labor cost curve will increase at a decreasing rate