The principal is distinct from the agent in the principal-agent model because
a. the principal offers the contract to the agent.
b. the principal is fully informed.
c. both a and b.
d. neither a nor b.
a
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Over the past 80 years, prices in the U.S. have risen on average about
a. 2 percent per year. b. 4 percent per year. c. 3.6 percent per year. d. 6 percent per year.
Refer to the table. For this economy to produce a total output of 3 units of capital goods and 13 units of consumer goods, it must:
Answer the question on the basis of the data given in the following production possibilities
table:
A. achieve economic growth.
B. use its resources more efficiently than the data in the table now indicate.
C. allocate its available resources most efficiently among alternative uses.
D. achieve the full employment of available resources.