When you see a commercial on TV asking you to "look for the union label," the union is trying to
A) increase worker productivity.
B) increase the demand for nonunion goods.
C) increase the demand for union goods.
D) decrease the demand for nonunion goods.
C
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In a principal-agent problem, if the contract implies that the more risk-averse agent will bear less risk, we can say that this contract exhibits
A) efficiency in risk-bearing. B) risk sharing is not optimal because the less risk-averse (or risk-neutral) agent should bear none of the risk. C) risk sharing is not optimal because all risk should be transferred to the most risk-averse agent. D) risk sharing is not optimal because risk-neutral agents should face no risk.
Selfishness is:
A. exhibited more strongly in the ultimatum game than in the dictator game. B. exhibited more strongly in the dictator game than in the ultimatum game. C. exhibited equally strongly in both the ultimatum and dictator games. D. rarely exhibited in either the ultimatum or dictator games.