Employers rely on a job applicant's signals
a. because they are always an accurate indication of the applicant's skills
b. because actual abilities are not observable prior to employment
c. because actual abilities are not observable after the applicant is hired
d. only when hiring someone for an entry-level position
e. only when hiring someone who has a college degree
B
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The existence of stagflation in the 1970s undermined the credibility of demand-management policies
a. True b. False Indicate whether the statement is true or false
Refer to the graph below, which shows the market for bicycles. S1 and D1 are the original supply and demand curves. D2 and D3 and S2 and S3 are possible new demand and supply curves. Starting from the initial equilibrium (point 1), what point on the
graph is most likely to be the new equilibrium after a sharp increase in traffic accidents involving cyclists, and the payment of subsidies to bicycle producers?
A. 3
B. 4
C. 5
D. 6