In the economic literature on principal-agent problems, the ________ is the person who takes some action, and the ________ is the person whom the action affects
A) agent, principal
B) principal, agent
C) Both statements describe the agent.
D) Both statements describe the principal.
A
Economics
You might also like to view...
A bowed out PPF reflects which of the following ideas?
i. Increasing opportunity cost ii. Resources are not equally productive in all activities. iii. Prices of goods increase over time. A) i and iii B) i, ii, and iii C) i and ii D) i only E) ii and iii
Economics
If people demand more of product A when the price of B falls, then A and B are:
A) not related. B) substitutes. C) complements. D) inferior.
Economics