Which one of the following is an example of asymmetric information?
A. A supermarket repackages packages of stale meat and sells them.
B. A homeowner knowingly sells a house that has hidden electrical problems.
C. A company hires an employee who has an addiction to sleeping pills.
D. All of these
Answer: D
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Unions
a. and firms paying wages above equilibrium to improve worker effort both create frictional unemployment. b. create frictional unemployment, while firms paying wages above equilibrium to improve worker effort create structural unemployment. c. create structural unemployment, while firms paying wages above equilibrium to improve worker effort create frictional unemployment. d. and firms paying wages above equilibrium to improve worker effort both create structural unemployment.
The purchasing power parity method of comparing income across countries is based on
What will be an ideal response?