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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Why is there asymmetric information in the labor market? What signals can an employer look for that might indicate file traits they are seeking in a new employee?

To determine

Asymmetric information in the labor market.

Explanation

There is asymmetric information in the labor market as the employee attributes cannot be observed by the employers until after the employee is hired. On the other hand, employees know about themselves that whether they are detailed-oriented or energetic.

Therefore, in order to pre-screen candidates, employers seek schools...

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