When New Professors Are Hired, Their Job Performance Is Monitored

question 149

Multiple Choice

When new professors are hired, their job performance is monitored closely. If they meet their institution's standards, they will eventually receive tenure. After receiving tenure, professors' job performance is less closely monitored, and they become difficult to fire. Tenure thus creates

• A)adverse selection.
• B)a Condorcet paradox.
• C)a screening problem.
• D)a moral hazard problem.

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Definitions:

Communication

The process of exchanging information, ideas, thoughts, and feelings between two or more people through verbal, written, or non-verbal methods.

Wages And Interest

This refers to the payment to labor for their contribution to production and the payment made for the use of capital, respectively.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, revolutionizing many aspects of social, economic, and manufacturing processes.