In contrast to the United States, the European Union has chosen
a. greater wage inequality for lower unemployment.
b. less wage inequality and lower unemployment.
c. greater wage inequality and higher unemployment.
d. similar wage inequality but more unemployment.
e. less wage inequality for higher unemployment.
e
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The principal-agent problem refers to the fact that firms must
A) choose between economic efficiency and technological efficiency. B) choose between a managerial and an incentive system. C) devise incentives to get employees to work in the best interest of the firm's owners. D) choose between operating as a partnership or corporation.
A firm that hires labor and sells its product both in purely competitive markets will:
A. Have a horizontal demand curve for labor B. Face a downward-sloping demand curve for its product C. Have a downward-sloping demand curve for labor D. Have a horizontal supply curve for its product