The percentage of the noninstitutionalized working-age individuals who are employed or seeking work is known as
A) the labor force.
B) the labor force participation rate.
C) discouraged worker.
D) the stock of employed and unemployed workers.
B
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Cheap talk works at placing workers in the right job as long as
A) the interests of the worker and the firm coincide. B) all workers want the most demanding jobs regardless of their abilities. C) workers have different ability levels that are unknown to firms. D) firms are not profit maximizers.
Happy Cows is bidding on a large piece of farm equipment to process their dairy products. The managers of Happy Cows have estimated the additional profit Happy Cows will earn from the piece of equipment and have valued the equipment at $125,000. Happy Cows' value of the farm equipment is ________.
A) a common value B) an independent private value C) a public value D) a correlated value