Curly Just Graduated from State U and Has Three Job

question 129

Multiple Choice

Curly just graduated from State U and has three job offers: teaching at a prestigious private high school nine months a year with summers off, working forty hours a week at a bank in a small city, and working more than sixty hours a week for a high-powered investment firm in New York. Suppose all of the jobs paid exactly the same annual salary, and that most people prefer leisure to work, all else equal. If that were the case:

• A)there would be a shortage of teachers at the high school.
• B)there would be a surplus of workers at the investment firm.
• C)there would be a surplus of teachers at the high school.
• D)people would naturally sort themselves into the job that best suits their talents.

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Definitions:

Nikkei

An abbreviation for the Nikkei 225 Stock Average, a leading index of Japanese stocks.

Japanese Stock Market

A collection of stock exchanges located in Japan, like the Tokyo Stock Exchange, where investors can trade shares of Japanese companies.

Index

A statistical measure that represents the performance of a group of stocks, indicating trends in various industry sectors or the market as a whole.

Call Option

A financial derivative that gives the holder the right, but not the obligation, to buy a stock or other asset at a specified price within a specified time frame.