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Describe the problem of a asymmetric information that an employer faces in hiring a new employee. What solutions can you think of? Does the problem

Describe the problem of a asymmetric information that an employer faces in hiring a new employee.

What solutions can you think of? Does the problem persist after the person has been hired? If so, how and what can be done about it? Is the problem more or less severe for employees on a fixed salary? Why or why not?

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