Economics is a:
A) social science that studies goods with no alternative uses.
B) natural science that studies goods with no alternative uses.
C) social science concerned chiefly with how people choose among alternatives.
D) social science concerned chiefly with reasons why society has unlimited resources
Ans: C) social science concerned chiefly with how people choose among alternatives.
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To keep employees from shirking, invest in greater monitoring
a. when monitoring is expensive relative to its benefits b. especially when monitoring is not very efficient c. when employees respond well to incentive contracts d. when incentives fail to solve either moral hazard and adverse selection problems with employees
The division of labor refers to
A) the separation of blue-collared workers and white-collared workers. B) finding the best order of performing tasks. C) the separation of workers into union workers and non-union workers. D) the assignment of different workers to different tasks.