Back-loading of employees' wages helps a company because:
a. they act as incentives for employees to work hard throughout their tenure with the company.
b. they completely eliminate all sorts of opportunistic behavior on the part of the employee throughout his/her tenure with the company.
c. they reduce the actual cost burden of the employee on the company.
d. they prevent opportunistic behavior on the employer's part.
A
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Someone who knows nothing about the relative quality of a $2 toothbrush and a $7 toothbrush, both available for sale, but chooses to buy the more expensive one, is probably
A) displaying an inelastic demand for toothbrushes. B) judging quality by price. C) violating the law of demand. D) wealthy enough not to care about prices.
If the long-run aggregate supply curve is vertical,
A) the trade-off between unemployment and inflation cannot be permanent. B) the short-run Phillips curve must be vertical. C) the economy stays at the natural rate of inflation in the long run. D) unemployment and inflation are positively related in the long run.