When a seller knows more about the condition of a used car than the buyer does, the information is said to be asymmetric

Full employment is defined by all economists as precisely 5 percent of the labor force

a. True b. False Indicate whether the statement is true or false

A decrease in the marginal factor cost of labor will

A. lead to an decrease in the quantity demanded of labor. B. cause the value of the marginal product of labor to decrease. C. induce a firm to hire more workers. D. induce a firm to hire fewer workers.