U-1 is a more ________ measure of unemployment rate than the conventional U-3 measure and U-1 counts as unemployed workers who ________
A) narrow; have been unemployed for 15 weeks or more weeks
B) broad; have been laid off
C) broad; are marginally attached to the labor force
D) narrow; have been laid off
E) broad; who are discouraged workers
A
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A good salesperson can sell $200,000 worth of goods, while a poor one can sell only a smaller amount worth of goods. Job applicants know if they are good or bad, but the firm does not
A firm will offer job applicants a choice between a fixed salary of $20,000 or a 20% commission. Assume risk-neutral salespersons and no opportunistic behavior. Given that the firm wants to distinguish a prospective good salesperson from a poor one, what should be the sales amount of a poor salesperson? A) more than $150,000 B) less than $100,000 C) more than $100,000 D) $100,000
Mechanisms that manufacturers can use to deal with misaligned retailer incentives include
a. setting a maximum retail price b. allowing many retailers to sell the product in each market c. preventing retailers from compensating sales staff for demonstrating the product d. providing manufacturer staff to demonstrate the product in stores