A Baseball Player Who Has Signed a Long-Term Contract with His

question 120

Multiple Choice

A baseball player who has signed a long-term contract with his club and then constantly says he is injured and cannot play is an example of

• A) the principal-agent problem.
• B) marginal returns to work.
• C) the law of diminishing returns.
• D) inefficient hiring practices.

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Definitions:

Presbyopia

A natural age-related loss of the eyes' ability to focus on close objects, due to the hardening of the lens inside the eye.

Elasticity

In economics, it measures how the quantity demanded or supplied responds to changes in price or income.

Optometrist

A healthcare professional who provides primary vision care, ranging from sight testing and correction to the diagnosis, treatment, and management of vision changes.

Lens

The transparent disk-shaped structure behind the iris and the pupil that changes shape as it focuses on objects at varying distances.