Why is the labor market called a matching market?
A labor market is a matching market, where the value a relationship creates will depend heavily on how well employees and employers meet each others' expectations. In few other markets do individual attributes of buyers and sellers play such important roles. Either party can initiate the unmaking of a match, but only at a cost.
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Why does a high interest rate discourage people from holding their money in cash?
(A) They are fearful of inflation. (B) They cannot be sure that cash will hold its value. (C) They are more concerned that it will be stolen. (D) They can earn interest on the cash if it is invested.
Guiding the market through strategic coordination of business investments to increase export market shares is known as
(a) development planning. (b) industrial policy. (c) shifting terms of trade. (d) all of the above. (e) none of the above.