Sonia works at a restaurant where tips are pooled and divided equally. Anna works at a different restaurant where she keeps the tips her customers leave for her. Which of the following is true?
a. Both work equally hard because their hourly wage from the employer is low, and they can make up for this with tips.
b. Sonia works harder, because she receives the same amount of tips as other workers.
c. Anna works harder, because she works at an expensive restaurant.
d. Anna works harder, because her tips are her private property.
e. Neither of them has an incentive to work hard because tips are a small part of their earnings.
d
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When the Fed buys bonds in the open market, we can expect
A) bond prices and interest rates to fall. B) bond prices to rise and interest rates to fall. C) bond prices to fall and interest rates to rise. D) bond prices and interest rates to rise.
Mike is an automobile worker. Because of technological changes in the way automobiles are produced and the increased use of automation, Mike was recently laid off and is currently seeking another job. Mike is best described as being
a. frictionally unemployed b. structurally unemployed c. seasonally unemployed d. not in the labor force e. cyclically unemployed