A principal-agent problem occurs when
a. people are "fooled" by high absolute wages offered by employers.
b. insurance increases people's willingness to take risks.
c. an employer cannot fully monitor the employee's work.
d. a highly productive worker is unable to earn any rent.
c. an employer cannot fully monitor the employee's work.
Economics
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The price elasticity of demand depends on the
A) proportion of consumers' budgets spent on the good. B) number of available substitutes. C) extent to which the commodity is a luxury. D) all of the above.
Economics
The most important factor in determining a nation's standard of living in the long run is the productivity of its resources
a. True b. False Indicate whether the statement is true or false
Economics